Focus on Value: By targeting high -
yielding securities at significant discounts to their intrinsic values, we attempt to generate capital appreciation on top of high current income.
Not exact matches
In Japan, bond
yields face a demand squeeze, Yasunari Ueno, chief market economist
at Mizuho
Securities, said in a note last week.
But cross-country differences in equity returns declined to pre-crisis levels while the range of
yields on debt
securities issued by banks and by non-financial corporations also narrowed, suggesting that there is some integration
at least in prices of financial instruments.
debt obligations of the U.S. government that are issued
at various intervals and with various maturities; revenue from these bonds is used to raise capital and / or refund outstanding debt; since Treasury
securities are backed by the full faith and credit of the U.S. government, they are generally considered to be free from credit risk and thus typically carry lower yields than other securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasur
securities are backed by the full faith and credit of the U.S. government, they are generally considered to be free from credit risk and thus typically carry lower
yields than other
securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasur
securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury
securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasur
securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected
Securities (TIPS), and Treasur
Securities (TIPS), and Treasury Auctions
Previously, Mr. Woolford worked
at CIBC World Markets, Morgan Stanley & Co and BT
Securities where he was responsible for originating, structuring and distributing high yield and investment grade private placement s
Securities where he was responsible for originating, structuring and distributing high
yield and investment grade private placement
securitiessecurities.
With Group of Seven (G7) sovereign bond
yields at historically low levels, some income - seeking investors have turned to higher - volatility
securities like dividend - paying stocks in an attempt to capture additional income.
Here is a look
at the highest
yielding securities in today's market.
Prior to joining Cerberus, Mr. McLeod managed the leveraged finance origination and execution activities
at CIBC World Markets from 1998 to 2006, where he originated, structured and executed transactions involving high
yield debt
securities, leveraged loans, privately placed mezzanine
securities and merchant banking investments.
The SEC
yield reflects the rate
at which the fund is earning income on its current portfolio of
securities while the distribution rate reflects the fund's past dividends paid to shareholders.
Japan's recession left little demand
at home, so its banks developed the carry trade: lending
at a low interest rate to arbitrageurs to buy higher -
yielding securities.
After providing double - digit returns for many years, REITs are now well off the previous highs and trade
at an estimated 15 % discount to net asset value (Source: TD
Securities) and
yielding an average of 7 %, a spread of 2.75 % over 10 - year bonds.
Despite their high real
yields, the premiums over face value would erode in the event of deflation (though the
securities do not mature
at less than par in any event).
At current
yields, these 2
securities will cumulatively add $ 138.60 annually to my passive dividend income.
What moves
yields in the market is the varying demands for
securities of different maturities
at a particular time and under given economic conditions.
With lower demand for shorter - term
securities, their
yields actually go up, giving rise to an inverted
yield curve when
yields on longer - term
securities have come down
at the same time.
Finally, since October 2008, the Fed has been paying interest on bank reserves,
at rates generally exceeding the
yield on Treasury
securities, thereby giving them reason to favor cash reserves over government
securities for all their liquidity needs.
If the ratio is
at 100 %, it indicates that the
yield on a AAA - rated municipal bond is the same as a Treasury
security of the same maturity.
Real
yields on Treasury Inflation Protected
Securities (TIPS)
at «constant maturity» are interpolated by the U.S. Treasury from Treasury's daily real
yield curve.
In a related civil case, the U.S.
Securities and Exchange Commission said the scheme
yielded $ 3.9 million in profits and
at least $ 193,000 in consulting fees for companies where Blaszczak worked.
Either the shares will not be called in, and she will actually get to earn that high current
yield over time (which she would not have otherwise gotten to earn), or the shares will be called in, and she will get pulled out of the
security,
at which point she will be able to take her money and go invest in a better deal.
Prior to working exclusively with Miller Value Partners, Bill worked
at Legg Mason Capital Management since 2008 covering the specialty finance and consumer spaces with a focus on high -
yielding securities.
In addition, these funds must invest
at least 50 % of their non-cash assets in income - generating
securities such that the 3 - year weighted average
yield on the equity component of the fund's portfolio is
at least 1.5 times the average
yield of the Canadian Equity Fund benchmark, defined as the S&P / TSX Equity Index.
We define intrinsic value as the amount that would accrue to the owners of a
security if the underlying company were sold to a rational and well - informed buyer, or the company was liquidated with the proceeds distributed to
security holders, or where the particular
security sells
at a price that would
yield no better than a
security considered ultra-safe, such as a US Treasury note or bond» Lou Simpson
Concern over future food and nutritional
security is rapidly rising on the global agenda amidst studies showing crop
yields are far from increasing
at the rates needed to meet projected demands for 2050.
Bunny needs the work, having lost, in succession, the full pension due a retired police major, his golden parachute running
security for Johns Hopkins (both casualties of his experiment, «Hamsterdam,» to legalize drugs in his district, which
yielded both a 14 % drop in violent crime and a massive political shitstorm), and his
security job
at a downtown hotel (the result of his failing to give special treatment to a «friend of the hotel» who beats up a hooker).
And if you look
at a common gauge of future inflation expectations — the difference between the
yield on long - term Treasury bonds and that of Treasury Inflation - Protected
Securities, now about 1.8 to two percentage points — investors apparently believe inflation will continue to mosey along
at a relatively sluggish rate well into the future.
Worse, the market has panicked, and the
security you bought with a 6.5 %
yield is now getting discounted
at a mid-teens interest rate.
ABCP will remain but with safer classes of asset - backed
securities, wider spreads, and larger margins of safety,
at least until the next lust for
yield comes upon us.
Look
at the
yield on juniormost debt
security of the firm, the cost of equity is higher than that.
Northern Trust Corp, 5.85 %; Non-Cumulative; Series C (NTRSP) From Forbes / Lehmann Income
Securities Investor Northern Trust Corp, 5.85 %; Non-Cumulative; Series C; Par $ 25.00; Rated Baa1 / BBB; Call 10/01/19
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High
yield ETFs hold the allure of making more money, but
at the cost of
security.
At the other end, high -
yield bonds pay a higher interest rate than Treasury
securities, but there's a substantial risk that the issuer won't be able to keep up with payments or pay back your principal.
At a 10 - year Treasury yield of 1.7 %, interest on reserves of 0.25 %, and a monetary base now at about 18 cents per dollar of nominal GDP (see Run, Don't Walk), further purchases of long - term Treasury securities by the Fed would produce net losses for the Fed in any scenario where yields rise more than about 20 basis points a year, or the Fed ever has to unwind any portion of its already massive position
At a 10 - year Treasury
yield of 1.7 %, interest on reserves of 0.25 %, and a monetary base now
at about 18 cents per dollar of nominal GDP (see Run, Don't Walk), further purchases of long - term Treasury securities by the Fed would produce net losses for the Fed in any scenario where yields rise more than about 20 basis points a year, or the Fed ever has to unwind any portion of its already massive position
at about 18 cents per dollar of nominal GDP (see Run, Don't Walk), further purchases of long - term Treasury
securities by the Fed would produce net losses for the Fed in any scenario where
yields rise more than about 20 basis points a year, or the Fed ever has to unwind any portion of its already massive positions.
They can either switch to another five - year fixed rate preferred share
security (with the rate being set
at the then five - year Canada bond
yield plus the initial spread) or a five - year floating rate preferred share with the
yield set
at the then 3 - month Treasury bill rate plus the initial spread.
Aladdin tools allow an in - depth look
at a portfolio down to the
security level, and
at the same time, give an overview of risk factors such as sector and subsector exposures,
yield curve, ratings, etc..
«If 10 - year
yields are moving north of 5.30 percent and making a new high
yield for the cycle, you might argue you were in a bear market,» said Richard Gilhooly, senior U.S. bond strategist of BNP Paribas
Securities Corp., speaking
at the Reuters Investment Outlook Summit on Tuesday.
The dependence of investors on an ever - decreasing pool of higher -
yielding securities comes
at a time when corporate fundamentals are beginning to look vulnerable.
High -
yield muni portfolios typically invest
at least 50 % of assets in high - income municipal
securities that are not rated or that are rated by a major agency such as Standard & Poor's or Moody's
at the level of BBB (considered part of the...
In addition, these funds must invest
at least 50 % of their non-cash assets in income - generating
securities such that the 3 - year weighted average
yield on the equity component of the fund's portfolio is
at least 1.5 times the average
yield of the Canadian Equity Fund benchmark, defined as the S&P / TSX Equity Index.
Since bonds are typically sold
at a higher or lower price than they were issued, their
yields are often different than the stated coupon rate for the
security.
As long as central banks around the globe are creating monetary credits
at a breakneck clip of $ 200 billion per month, assets from stocks to real estate to higher
yielding securities may have a floor underneath them.
TAF acquired both
securities at an approximate 50 %
yield to maturity and a 37 % current
yield.
Earned income reflects the
yield at which the fund acquires each
security.
Extension risk For mortgage - related
securities, the risk that rising interest rates will slow the assumed prepayment speeds of mortgage loans, delaying the return of principal to their investors and causing them to miss the opportunity to reinvest
at higher
yields.
I would start off saying buy a total bond market fund, but if you look
at what's in a total bond market fund, it's about two - thirds either direct Treasury
securities or government agency
securities, which are in affect government
securities and the
yield is, in my judgment, quite inadequate.
The
security would sell
at a premium due to the high return, but not as high as that of a comparably
yielding Treasury bond, due to concerns about prepayment.
By issuing longer - term
securities with lower -
yield offerings, businesses and governments alike can acquire needed investment capital
at affordable costs to jumpstart a weak economy.
In general terms, if you own short maturity
securities, you could benefit when the
yield curve steepens as short - term rates are likely falling, or
at least rising less than longer - term
yields.
What moves
yields in the market is the varying demands for
securities of different maturities
at a particular time and under given economic conditions.
Yields on Treasury securities at «constant maturity» are interpolated by the U.S. Treasury from the daily yield curve, which is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter m
Yields on Treasury
securities at «constant maturity» are interpolated by the U.S. Treasury from the daily
yield curve, which is based on the closing market bid
yields on actively traded Treasury securities in the over-the-counter m
yields on actively traded Treasury
securities in the over-the-counter market.