Not paying the May 15 bond could have triggered so-called cross-default clauses, m eaning that holders of other bonds governed by foreign law that were also not swapped could have demanded immediate payment.
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To get the same yield, an investor would have to buy a lower-rated bond, such as a 15-year double-A-rated bond or a triple-B-rated bond maturing in eight years.
Government bond prices also fell, with the yield on the benchmark 8.15% 2022 bond rising to 7.80% from 7.74% earlier, but later paring some losses to trade at 7.77%.
Government bond prices fell initially--with the yield on the benchmark 8.15% 2022 bond rising to 7.80% in a knee-jerk reaction from 7.74% earlier, before recovering to end at 7.74%.
The yield on the benchmark 8.15% bond due in 2022 rose to 7.45%, a two-week high, following the governor's comments.
The bull can be traced back to 1981, when Treasury bond yields peaked at above 15%.
The benchmark 8.15% 2022 bond ended at 104.40 rupees, compared with 103.70 rupees before the announcement of the data.
The benchmark 8.15% 2022 bond climbed to an intraday high of 101.88 rupees from 101.64 rupees before the data.
The spread between German bond yields fell from roughly 15 percentage points to a little over 11 percentage points.
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Over any 5 year period, about 25 percent of equity funds and 15 percent of bond funds disappeared through merger or closure.
Over the past 15 years, the bond fund has returned 7.39%, compared to the 6.26% return on the benchmark.
The government's 10-year benchmark bond is yielding around 5.15%, compared with the peak of 7.68% hit last July, according to Tradeweb data.
Spain returns to the bond debt market this Thursday, offering 15, 18, and 41-year paper.
Italy is launching a new four-year BTP Italia (an inflation-linked bond aimed at retail investors) between 15 April and 18 April.
The four iShares index funds (see table below), issued by the Global Investors unit of Barclays (nyse: BCS - news - people ), sport a rock-bottom expense ratio of 0.15 versus open-end bond fund averages of around 1.00 and the 0.20 charged by low-cost leader Vanguard.
Furthermore, the allocation to bonds and bond funds remained above the historical average of 15% for the 28th consecutive month.
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It has a duration (rate sensitivity) of 15 years, to 11 for the bond.
It is also the 22nd consecutive month that bond allocations have been above their historical average of 15%.
The 30-year-plus bond bull market is reflected by this long-term chart of T-Bond yields by year-they have declined from 15.2% to 2.91%!
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Bond allocations have been above the historical average of 15% for all of 2010 and reached the highest observed value of 25.5% during May 2010.
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Bond allocations have now stayed above their historical average of 15% for 11 consecutive months.
Even with the decline, July marked the 26th consecutive month that bond and bond fund allocations have been above their historical average of 15%.
The carriage announcement proves a much-needed boost for the fledgling movie channel, which offers access to more than 15, 000 films, including the Tyler Perry and James Bond franchises, as well as original series on multiple platforms.
Early this month, Japan's central bank said it will start a huge bond-buying campaign to inject capital into the country's anemic economy, its effort to end 15 years of deflation.
While payouts from your bond fund may be called "dividends, " they're really interest and don't qualify for the 15% rate.
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