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@PRESSmUP Holdings in the chart are as of March 31, 2015. There may have been a few changes since then.
@Dex Maybe this is a good thing? [of course, junk declines often foreshadow broader mkt corrections, so when I suggest "good" you're probably thinking "whatchoo talkin' 'bout, Willis?"]
hezsafe said .... "The trend in corporates will probably continue for awhile." I guess that's why it's called a "trend." (heezsafe - Yogi would like that one.)
Carl Icahn blasted junk bonds yesterday. But I don't know where he gets his credentials to forecast markets.
Yeah - most everything is priced high due to the bizarre interest rate environment we've been mired in for almost a decade now.
Price's very conservative PRHYX was off .62% today - so I'd infer the sector took a hit.
I don't spend much time looking at short-term numbers on bond funds. The more important consideration is who runs the fund, how long a track record do they have, and what kind of risk parameters are in place. Even then, I am cautious about maturities and duration. And just because a manager appeared to have a great record at one fund does not mean they will do well at another. Kathleen Gaffney's new fund EVBIX is having a terrible time of it, where her long-term average maturities are getting hammered.
@BobC, Keen observation on Kathleen Gaffney's Eaton Vance Bond fund-tough year!
Kathleen Gaffney's new fund EVBIX is having a terrible time of it, where her long-term average maturities are getting hammered.
Also having 30% foreign currency exposure while the USD dollar is strong made the matter worse. Interestingly, the risk exposure of this fund comparing to Kathleen' former co-manger, Dan Fuss, is quite different. Fuss's fund is down this year as he has shorten the duration exposure. But the high yield and foreign currency exposures have led to under performance in both funds.
Comments
http://www.ritholtz.com/blog/2015/09/a-question-of-liquidity/
@Dex Maybe this is a good thing? [of course, junk declines often foreshadow broader mkt corrections, so when I suggest "good" you're probably thinking "whatchoo talkin' 'bout, Willis?"]
Yes, it can be good - buy low etc. - if you have the$.
I'm in high yield munis that is doing well.
http://www.bloomberg.com/news/articles/2015-09-29/bofa-sees-junk-bond-train-wreck-as-pain-spreads-across-market
I guess that's why it's called a "trend." (heezsafe - Yogi would like that one.
Carl Icahn blasted junk bonds yesterday. But I don't know where he gets his credentials to forecast markets.
Yeah - most everything is priced high due to the bizarre interest rate environment we've been mired in for almost a decade now.
Price's very conservative PRHYX was off .62% today - so I'd infer the sector took a hit.