HIGH YIELD OR “JUNK’ BONDS, HAVEN OR HORROR docx

... HIGH YIELD OR “JUNK’ BONDS, HAVEN OR HORROR By Mason A. Dinehart III, RFC A high yield, or “junk” bond is a bond issued by a company that is considered to be a higher credit ... swings). Taxable high- yield corporate bonds historically have performed well in an improving economy despite the accompanying rising rate environment. As an asset class, high-...

Ngày tải lên: 22/03/2014, 18:20

... liquidity, more limited return opportunities, and higher bond portfolio risk. The cost of the control premium is more pronounced for buyers of corporate bonds and mortgage-backed securities than for ... liabilities is more viable for the short-term than for the long- term. Similarly, short-duration mutual funds—such as money market or short-term taxable bond funds— that have historically...

Ngày tải lên: 15/02/2014, 13:20

... Gilts WehaveseenthattheUKGovernmentisthelargestissuerintheUKbondmarketbutitisalso importanttounderstandthekeyrolethatithasindefiningthereturnonallotherbondsinthe market.Yieldsongiltsareoftenseenasthereferencepointforallotherbonds.Hencein creasesin giltyieldswilllikelyleadtoincreasesinotherbondsyields(andfallsinprices).Th...

Ngày tải lên: 06/03/2014, 08:20

... effect and incorporating macro- economic variables that were more closely tied to the financial health of corporations. 3 The authors accounted for aging by using the fraction of high yield bond ... default rate for the high yield market each year. The expected default rate is the default rate that would occur if firms in each major rating category defaulted according to his- torical...

Ngày tải lên: 15/03/2014, 03:20

... prohibited. To order Numerical Recipes books,diskettes, or CDROMs visit website http://www.nr.com or call 1-800-872-7423 (North America only), or send email to trade@cup.cam.ac.uk (outside North America). one-dimensional ... prohibited. To order Numerical Recipes books,diskettes, or CDROMs visit website http://www.nr.com or call 1-800-872-7423 (North America only), or send email t...

Ngày tải lên: 15/12/2013, 04:15

... prohibited. To order Numerical Recipes books,diskettes, or CDROMs visit website http://www.nr.com or call 1-800-872-7423 (North America only), or send email to trade@cup.cam.ac.uk (outside North America). } } du=(*df)(u); ... prohibited. To order Numerical Recipes books,diskettes, or CDROMs visit website http://www.nr.com or call 1-800-872-7423 (North America only), or send email...

Ngày tải lên: 15/12/2013, 04:15

... investor pool. These institutional investors might be managing traditional, long-only high- yield funds or portfolios that invest only in high- yield securities, but via both long- and short-positions. ... are exceptions. More highly speculative companies might set a high coupon to attract buyers, but shorter tenors to allow for quicker refinancing. Likewise, higher-quality high...

Ngày tải lên: 15/02/2014, 13:20

Ngày tải lên: 22/03/2014, 18:20

... bond workouts, The Yale Law Journal 97, 232– 279. Salomon Brothers High Yield Research, 1992, High yield default study ~1991 summary!, High Yield Research Report, January, 1–27. Smith, Clifford ... Delaware Bay, Standard & Poor’s Creditweek and High Yield Quarterly, Moody’s Investors Service’s Bond Survey and Corporate Credit Research reports, and financial press reports a...

Ngày tải lên: 22/03/2014, 18:20