The cost of protecting U.S. corporate bonds from default has fallen below yield premiums by the most since January as concern ebbs that the world's largest economy will lapse back into recession, giving Pacific Investment Management Co. more reason to snap up bank debt.
The following are remarks delivered by Securities and Exchange Commission member Elisse B. Walter on Sept. 21 in San Francisco at the SEC's inaugural hearing on the state of the municipal-securities market
With stricter capital requirements, banks may shy away from purchasing municipal debt
Florida's Lee County sold $81.2 million of bonds to keep an attraction that generates $21 million a year in tourism: the Boston Red Sox.
So-called placement agents and others who solicit business from municipalities and public pension fund must register with the Securities and Exchange Commission as "municipal advisors."
Seeking to curb misleading or 'stale' information; mandatory accounting standards eyed
Strong global economic growth "is usually a good recipe for riskier assets."
A weak economy, a poor equities market and low interest rates have been a boon to high-yield junk bonds.
Bond returns are exceeding stock gains by the widest margin in nine years as optimism that greeted the year evaporates and investors around the world question the strength of the economic recovery.
Global financial market returns stand at the threshold of mediocrity. With bonds priced not for recession but near depression, most major global bond indices now yield less than 3%, surely a forerunner of returns to come.
Default, dear Brutus, is in Pennsylvania, as capital city will miss payment on bond; Ambac to cover
Put off by the paltry yields on Treasuries, many investors are turning to emerging-markets sovereign debt for better returns.
When it comes to municipal bond defaults, investors need to be careful about a few specific types of bonds. For most other munis, problems can be neutralized with good old-fashioned research and diversification.
Arrangement puts underwriter on retail par with other major firms
Although the run-up in emerging-markets debt may seem a little long in the tooth, a good case can still be made for purchasing these bonds.
After warning that deficit spending could force inflation higher, Warren E. Buffett shortened the duration of bonds held by his Berkshire Hathaway Inc.
Bond giant, others say central bank set to embark on 'QE2' -- a second round of quantitative easing. The result? Yields will sink to Eisenhower-era levels
The party's almost over for the raucous debt markets, predicts Mark Gilbert. And the endgame is going to leave bond investors with a doozie of a headache.
