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Morgan Stanley Income Securities (ICB)

- NYSE
  • Yesterday, 8:07 AM
    • "The global economy's finance-based spine is so out of whack that it is in need of a major readjustment," writes Bill Gross in his September Investment Outlook. "In this case, even the best of chiropractors could not even attempt it. Nor would a one-off fed fund increase straighten it out."
    • He's still of the belief that the Fed should go ahead and boost rates in September, but the accompanying language needs to be very carefully crafted to maybe even suggest a "one-and-done," for at least for the next six months.
    • "The Fed is beginning to recognize that 6 years of zero bound interest rates have negative influences on the real economy – it destroys historical business models essential to capitalism such as pension funds, insurance companies, and the willingness to save money itself. If savings wither then so too does its Siamese Twin – investment – and with it, long term productivity – the decline of which we have seen not just in the U.S. but worldwide."
    • ETFs: AGG, BND, BOND, PTY, RCS, DBL, BTZ, HTR, PCM, SCHZ, JHI, BHK, TAI, LAG, JMM, ICB, VBF, FBND, PAI, SAGG, GBF, IUSB, VBND
    | Yesterday, 8:07 AM | 8 Comments
  • Mon, Jun. 29, 3:15 PM
    | Mon, Jun. 29, 3:15 PM | 5 Comments
  • Fri, Jun. 19, 10:00 AM
    | Fri, Jun. 19, 10:00 AM | 20 Comments
  • Mon, Jun. 8, 11:14 AM
    • That's pretty impressive considering the last three decades includes big dives in bond prices amid tightening cycles in 1987, 1994, 1999, and 2004, not to mention 2013's taper tantrum.
    • Of course, the Fed has yet to do anything but talk this time around, so what makes this cycle different, says JPMorgan, is it's the first of these bear markets to be driven by non-U.S. events - notably the crash (from highly inflated levels) of European bond markets, particularly Germany.
    • Chart via econgirl
    • ETFs: AGG, BND, BOND, PTY, RCS, DBL, BTZ, HTR, PCM, SCHZ, JHI, BHK, PLW, TAI, LAG, JMM, GOVT, ICB, FTT, VBF, ARMF, FBND, PAI, EGF, SAGG, GBF, IUSB, TAPR, VBND
    | Mon, Jun. 8, 11:14 AM | 11 Comments
  • Fri, Jun. 5, 12:38 PM
    • "More myth than reality," BlackRock (BLK -0.9%) chief Larry Fink tells Barron's of the idea that fixed income ETFs have more potential than mutual funds to pose systemic risk to the markets.
    • If anything, he says, ETFs - - by matching buyers and sellers throughout the trading day - can serve as temporary buffers against selling pressure in ways mutual funds cannot. Most ETF trades take place between buyers and sellers of the ETFs themselves, as opposed to mutual funds which must sell assets as investors ask for their money back.
    • An Investment Company Institute study estimated 19% of bond ETFs trades triggered buying or selling in individual bonds between Jan. 2013 and June 2014.
    • Fink also notes the rise in ETF usage by institutions like pension funds and insurance companies, and how these investors rarely do short-term trades.
    • ETFs: AGG, BND, BOND, PTY, RCS, DBL, BTZ, HTR, PCM, SCHZ, JHI, BHK, TAI, JMM, LAG, ICB, VBF, ARMF, FBND, PAI, SAGG, GBF, IUSB, VBND
    | Fri, Jun. 5, 12:38 PM | 2 Comments
  • Thu, Jun. 4, 8:52 AM
    | Thu, Jun. 4, 8:52 AM | Comment!
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Company Description
To provide as high a level of current income as is consistent with prudent investment and as a secondary objective, capital appreciation. It may invest up to 10% of its assets in non-US dollar denominated investment grade securities and up to 20% of its as