Zions Direct ( www.zionsdirect.com ), the online broker-dealer that allows its customers to purchase corporate bonds in its daily web-based auctions, announces their weekly auction results. In auctions closed from August 8, 2011 to August 12, 2011, investors purchasing corporate bonds in the auctions received average taxable yields 0.68 percentage points, or 68 basis points, higher than comparable bonds reported in FINRA's Trade Reporting and Compliance Engine (TRACE).
Corporate Bond Auction Comparison Data (auction data from auctions.zionsdirect.com)
----------------------------------------------------------------------------
Issuer Term Rating Auction Yield TRACE Difference
---------------------------------------------------------------------------- Avg Yield (basis points)
----------------------------------------------------------------------------
Bellsouth Corp (AT&T) 2 Month A 1.15% 0.74% 41
----------------------------------------------------------------------------
Walt Disney Company 7 Month A 1.16% 0.74% 42
----------------------------------------------------------------------------
ConocoPhillips 14 Month A 1.60% 1.83% -23
----------------------------------------------------------------------------
Kraft Foods Inc 3 Month BBB 1.75% 1.04% 71
----------------------------------------------------------------------------
Credit Suisse USA Inc 5 Month AA 1.44% 0.32% 112
----------------------------------------------------------------------------
General Electric Capital 14 Month AA 2.26% 0.62% 164
----------------------------------------------------------------------------
Credit Suisse USA Inc 3 Month AA 1.12% 0.32% 80
----------------------------------------------------------------------------
JP Morgan / Bear Stearns Co 6 Month A 1.39% 0.74% 65
----------------------------------------------------------------------------
AT&T Inc 1 Year A 1.55% 1.83% -28
----------------------------------------------------------------------------
General Electric Capital 3 Month AA 1.45% 0.32% 113
----------------------------------------------------------------------------
Target Corp 7 Month A 1.65% 0.74% 91
----------------------------------------------------------------------------
Goldman Sachs Group Inc 13 Month A 1.55% 1.83% -28
----------------------------------------------------------------------------
General Electric Capital 3 Month AA 1.00% 0.32% 68
----------------------------------------------------------------------------
HSBC Finance Corp 7 Month A 1.98% 0.74% 124
----------------------------------------------------------------------------
Credit Suisse New York 11 Month AA 1.94% 0.62% 132
----------------------------------------------------------------------------
Average Difference 68
----------------------------------------------------------------------------
For more information on Zions Direct and the BondDesk Market Snapshot go to www.zionsdirect.com to sign up to receive the free weekly newsletter or visit www.think.zionsdirect.com to view a Market Snapshot archive.
THE INFORMATION IN THE MARKET SNAPSHOT IS NOT INTENDED TO SERVE AS THE BASIS FOR INVESTMENT DECISIONS. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE RESULTS.For more information visit http://www.researchandmarkets.com/research/ff75b8/desk_encyclopediaAbout BondDesk Group LLC BondDesk Group LLC is a financial technology firm, providing enterprise-wide fixed income solutions to many of the top broker-dealers in North America. The BondDesk Alternative Trading System (ATS), run by BondDesk Trading LLC, connects broker-dealers through a centralized marketplace by offering a diverse pool of liquidity for odd-lot fixed income securities in multiple asset classes. The BondDesk ATS executes over 20,000 transactions per day by providing 2,000 broker-dealers access to 35,000 live and executable offerings from over 100 premier fixed income dealers. In addition, BondDesk Group is a leading provider of innovative fixed income wealth management solutions, advisor workstations and fixed income analytical tools and applications.Transposable ElementsSymbiosisAlthough information in this Market Snapshot is believed to be reliable, Zions Direct and BondDesk make no express or implied warranties of any kind regarding this information, including as to its accuracy or completeness. Auction data excludes bonds in undersubscribed auctions.Market Snapshot Information Disclaimer TRACE bond trade data displayed as weighted average yield. Corporate bond information from FINRA's Trade Reporting and Compliance Engine (TRACE) as of August 12, 2011. The Trade Data was developed by BondDesk Group based on trade reporting information from TRACE, and excludes transactions in callable and floating-rate coupon bonds. Auction information from auctions.zionsdirect.com as of August 12, 2011. The aggregate rating for each bond is based on average ratings from Moody's and S&P (when available).Terms are defined as follows: < 9 months = anything up to.75 years to maturity; 1 year = anything greater than 0.75 years up to 1.5 years to maturity; 2 years = anything greater than 1.5 years up to 2.5 years to maturity; 3 years = anything greater than 2.5 years up to 4 years to maturity; 5 years = anything greater than 4 years up to 6 years to maturity; 7 years = anything greater than 6 years up to 8.5 years to maturity; 10 years = anything greater than 8.5 years up to 11.5 years to maturity.
Investment products and services offered through Zions Direct, member of FINRA/SIPC, a non-bank subsidiary of Zions Bank are NOT insured by the FDIC or any federal or state governmental agency, are NOT deposits or other obligations of, or guaranteed by, Zions Bancorporation or its affiliates, and MAY be subject to investment risks, including the possible loss of principal value or amount invested. FDIC-insured CDs are insured up to $250,000 per individual account holder per bank.
No comments:
Post a Comment