tradeMONSTER Launches New Professional Grade Bond Trading Center

April 24th, 2012 by

Best of the Bond Market for April 24th, 2012

TradeMonster: tradeMONSTER Launches Professional Grade Bond Trading Center  Our Take: We have had the opportunity to have a look at the platform and can say that it is a huge step forward in trading access for the individual trader.  This is the first platform we have seen that provides individuals with streaming two way prices on Thousands of Bonds.  For an overview on how to use the platform go here.

Seeking Alpha: Corporate Bonds Still Attractive But Headwinds are Building  - Great article from one of the better writers on bonds out there.  “Looking at the five year credit sector, we can see that spreads remain above their historic norms and still have some room left to tighten (mean reversion, if you will). Looking across the ratings spectrum, what stands out is that lower rated credit are highest versus their historic norms with “BB” and “B” rated credits having the highest differences and within investment grade space, “BBB” offers the most value”.

Bloomberg: Wall Street Promotes Junk Bonds as Europe Erupts  Good article summarizing recent buy recommendations from the major investment houses: “Gains on U.S. high-yield, high-risk bonds, which are little changed since the end of February, are set to accelerate as central banks respond more aggressively to contain Europe’s fiscal imbalances, Morgan Stanley and JPMorgan said.”  High yield is still providing attractive spread compensation, even adjusting for defaults relative to higher- quality credit,”

Muni Market Advisors Tweets: After sector & rating, the most imp determinant to a bonds default risk is vintage – the year in which the bond was issued.  One vintage to be wary of is 2007 – a result of the real estate bubble – this vintage is hit or miss and can leave a bad taste in your mouth

Others:

US News: Ignore the Hype About Municipal Bond Defaults

WSJ: Beware the Power of Bond Indexes  

Blackrock: Of the $2T market in high yield and loans, only 2% will mature this year

Pension Dialogue: Can a Pension Plan Go Bankrupt?

Fox Business: GE Selling $3 Billion Bond Deal; Success Could Spur More Issuance

SEC: Egan-Jones Ratings Co. and Sean Egan Charged with Making Material Misrepresentations to SEC

Detriot Free Press: Detroit financial crisis: Bing’s budget slashes $250M spending, more than 2,500 jobs

FT: Ford Regains Investment Grade Rating

WSJ: Bond Investors May not Let the Fed Wait and See

Ritholtz: European Debt Sold Without Much of a Hitch

Econbrowser: Unemployment Rate by US County

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