Hints and tips:
...The figures for a suite of five European-domiciled fixed-income ETFs ranged from 80-89 per cent, except for one corporate bond fund that actually saw net inflows during the crisis period....
...Bonds issued by Illinois, New Jersey, New York’s transit authority and even the US territory of Puerto Rico have rallied since the election....
...The Pimco chief executive talks to the FT’s Owen Walker about his three years at the helm and rejuvenating the fixed income firm....
...It is one of the best fixed-income opportunities in the world.”...
...Not insignificant; say a bit more than the face value of Puerto Rico’s debt. There are several ways to make money with an MSR....
...That could be a nod to recent events in Puerto Rico, where customers were caught out after using loans secured against portfolios of government bonds to buy more government bonds....
...were being propelled higher by “refugees” from fixed income markets who were being starved of yield....
...“These are undeniably fixed-income-bearish statements, but we’ve had nothing but a rally.”...
...– From the NYT again: “The teachers’ pension fund in Puerto Rico looks very much like a legalized Ponzi scheme — one that might hold a warning for teachers across America....
...My own conclusion is that the fixed income and currency markets are still if anything understating the chances of a rise in rates at the end of this year; and the equity market seems not to care....
...Even many people on the fixed income buyside have a hard time caring about their hedge fund colleagues....
...You have stage payments, because they won't pay you all the money upfront in case you go off to Puerto Rico and don't build the place....
...But as sentiment towards stock markets remains gloomy amid mixed macroeconomic data, and investors flock to less risky fixed income funds, research from BAML and EPFR shows that municipal bond funds have...
...By some counts, the total number of parking spaces in the US cover an area the size of Puerto Rico. Designers and city planners are already salivating over what they could do with this reclaimed space....
...That’s arguably why online lenders will always find relying solely on the capital markets a difficult proposition — fixed-income investors buying loans direct or even via a securitisation have an informational...
...Nicolas Schlotthauer, head of emerging markets fixed income at Deutsche Asset Management, said he did not see a trend towards even weaker growth in emerging markets, despite the headwinds, arguing that energy...
...A full-blown default could push up borrowing costs for municipalities across the US, roughly three-quarters of US fixed-income investors have some exposure to Puerto Rico....
...Also adding to jitters are fresh worries over Puerto Rico’s ability to meet its debt obligations, which hover at around $70bn....
...fixed income at Wilmington Trust Investment Advisors....
...Still, no fixed-income security is immune to the potential impact of higher benchmark rates....
...Crisis-era scare stories about a wave of municipal bankruptcies were not especially plausible when they were made, notably by analyst Meredith Whitney in 2010, and if problems in Puerto Rico this year revive...
...Puerto Rico wants to raise funds and ease liquidity concerns over its $70bn debt load....
...Speculation over Puerto Rico’s return to markets has helped fuel a rally in municipal bonds at the start of the year, catapulting the group to one of the top positions among US fixed-income asset classes...
...Four fifths of all journeys in this country are by road, yet we rank behind Puerto Rico and Namibia in the quality of our network....
...Mounting problems in Puerto Rico, one of the largest issuers of munis, with $70bn in debt, fuelled further selling....
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