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State Street Rolls Out Short Term Corporate Bond ETF
Ron Rowland • Mon, Dec 21, 2009 • 4 Comments
State Street to Launch 1-3 Year Corporate Bond ETF Thursday
Don Dion • Wed, Dec 16, 2009 • 1 Comment

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Bonds Supporting Padawan Attacks Jedi Master Buffett - No Contest
Gary Bourgeault • Fri, May 31
Buffett's Dangerous Advice About Bonds
John Gerard Lewis • Mon, May 27 • 30 Comments
Credit Spreads Are Moderately Attractive
Calafia Beach Pundit • Sun, May 26 • 1 Comment
Apple Bonds In ETFs: If, When And How?
Matt Tucker • Wed, May 22
'Stash The Cash' Alternatives: Short-Term Bond ETFs And Mutual Funds
Variation • Tue, Nov 27, 2012 • 4 Comments
Rising Uncertainty Sees Investors Withdraw $10B From ETFs With U.S. Equity Exposure In October
Deborah Fuhr • Sun, Nov 11, 2012 • 2 Comments
The Best Short-Term Non-Junk Bond Investments Are CDs, Not Bond Funds Or Bonds
Kurt Shrout • Thu, Oct 18, 2012 • 11 Comments
FlexShares Introduces Enhanced Money Market ETF
Ron Rowland • Wed, Oct 17, 2012
Understanding The Life Cycle Of A Rally In Corporates Can Lead To Further Gains
Bondsquawk • Fri, Sep 28, 2012
Thrifty Investors Behold: Cheapest ETF In Every Category
Michael Johnston • Mon, Jun 18, 2012
Bond Rally Not Just Sovereigns
Peter Pham • Wed, Jun 6, 2012 • 1 Comment
Saving For College, ETF Style: An ETF-Friendly 529 Plan
Michael Johnston • Mon, May 7, 2012
Top 10 Corporate Bond ETFs
David Fry • Wed, Apr 25, 2012 • 5 Comments
Mitigating mREIT Risks With Short-Term Bonds
John Gerard Lewis • Tue, Jan 31, 2012 • 19 Comments
10 ETFs Cheaper Than Their Vanguard Peers
MoneyCone • Wed, Jan 18, 2012 • 5 Comments
Short-Term Corporate Bond ETFs: Got Risk?
Eric Parnell • Thu, Nov 17, 2011 • 5 Comments
iShares' Koesterich: Corporate Bonds Attractively Priced
Tom Lydon • Thu, Nov 3, 2011
Low-Fee, Short-Term Fixed Income ETFs: Performance And Yield Review
Zvi Bar • Fri, Sep 16, 2011 • 7 Comments
Rethinking The Risk Free Rate (Part 1): Free Lunch Currently Available Via Corporate Bonds?
Lawrence Weinman • Thu, Sep 8, 2011 • 11 Comments
ETF Pullback Choices: A Rare Emphasis on U.S. Equities
Marc Gerstein • Thu, Jul 14, 2011

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SCPB vs. ETF Alternatives

SCPB Description

The SPDR® Barclays Capital Short Term Corporate Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the short term US corporate bond market.
See more details on sponsor's website

Country: United States

Key Info

In Your Portfolio: Broad U.S. Bond ETFs, A Guide to U.S. Corporate Bond ETFs
Asset Class Performance: Bonds

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Monday, June 3, 8:47 AM Did Apple's (AAPL) mammoth $17B bond sale mark the top for bonds? Ten-year Treasury yields bottomed for the year at about 1.62% right at the time of the offering and have gone vertical since (currently at 2.16%). A back-of-the-envelope calculation finds the company pocketing $724M in savings over the life of the paper by borrowing at the end of April vs. the end of May. TLT -7.6%, LQD -3.7% during May. 3 Comments
Thursday, May 30, 3:31 PM Fidelity's plans for actively-managed ETFs takes shape, the firm registering the Fidelity Mortgage Securities ETF and the Fidelity Corporate Bond ETF. The mortgage product will invest in investment grade MBS and have a similar profile to the iShares MBS Bond Fund (MBB). The corporate fund will have similar interest rate risk to that of the iShares Credit Bond Fund (CFT). Getting with the times: They'll be the first new Fidelity ETFs in a decade. Comment!
Monday, May 20, 1:10 PM With borrowers racing to market before demand dries up or interest rates rise, corporate bond (LQD) sales this month are on pace for their busiest May ever, according to Bloomberg. The previous record of $162.6B was hit in 2008. Warnings from Buffett and Gross about the likelihood of higher rates are ignored as "investors have cash to spend yet fewer alternatives to buy," writes a Morgan Stanley team. Comment!
Friday, May 10, 5:57 AM Don't panic, Moody's says, there's "no strong evidence that recent [corporate debt] issuance levels presage a damaging correction." The notion that a bubble is building in the corporate bond market isn't reflected in credit spreads which, for both investment grade (LQD) and high yield (HYG, JNK), are closer to long-run averages than they are to alarmingly tight. Furthermore, the ratings agency says a surge in issuance reflects the "disintermediation of the banking sector" and notes that the proportion of total corporate liabilities comprised of debt securities hasn't significantly increased over the past two years." We can all rest easy now. (previous) 2 Comments
Wednesday, May 8, 11:20 AM Coupons continue to shrink on fixed-rate U.S. corporate bonds reports Fitch, with the average falling to 5.6% in March, down from 5.7% at year end, and 6.1% a year ago. Investment-grade paper (LQD) came in at 3%, speculative (HYG, JNK) at 6.3%. New issuance in Q1 was $259.5B, putting 2013 on pace with 2012's record activity. Rating activity remains subdued, with downgrades affecting just 1% of issuance, upgrades 1.8%. Comment!
Friday, April 12, 12:28 PM Fixed-income may not be being given away as it was in 2010, but there's still value, says Jeff Gundlach, scoffing at talk of a bond bubble. "Raise your hand" if you own Treasurys for yourself or a client, he asked a room full of advisors (none went up). Bonds are not "over-owned" in the U.S., he says, showing cash and fixed income make up a higher percentage of household financial assets in other countries. 5 Comments [U.S. Economy]
Wednesday, February 27, 11:10 AM Leading off his latest outlook with Alan Greenspan's "irrational exuberance" line, Bill Gross (BOND) ponders its application to credit markets (LQD, HYG, JNK) today. Conclusion: Not yet. Labeling credit irrationality a 6 on a scale of 1-10, Gross suggests not selling, but instead lowering expectations.
1 Comment [U.S. Economy]
Wednesday, February 13, 9:15 AM Corporate debt has duration risk as well, and worries over higher rates have BlackRock planning two actively-managed ETFs focused on short-term paper. Average duration of IG debt stands at a near-record 6.8 years, according to BAML. The long-end has been the place to be, but shorter-duration is "gaining traction." LQD -1.4% YTD. Comment! [U.S. Economy]
Tuesday, February 5, 2:49 PM Money for nothing. IBM plans a sale of $2B in floating-rate debt, with the 2-year paper maybe priced at Libor minus 2 basis points. The 5-year notes look to yield 47 bps more than 5-year Treasurys. Coca-Cola and P&G both issued debt paying less than the benchmark rate last year. 1 Comment [U.S. Economy]
Thursday, January 31, 4:37 PM Are funds flowing out of junk bonds? The noticeable turn lower in HYG and JNK in the past couple of sessions has been accompanied by surging volume, notes John Spence. Both of the ETFs have returned to about flat YTD. The IG corporate bond ETF (LQD) is now red. Dan Fuss describes today's high yield values as "ridiculous." Comment! [U.S. Economy]
Friday, January 18, 2:35 PM Investment-grade bonds continue to get a underweight allocation at Barclays, which says the spread to Treasurys isn't enough to compensate for the lack of liquidity, particularly so in higher-quality credits. The bank remains overweight high-yield - which also suffers from lower liquidity, but with a more adequate spread to make up for it. Chart of TLT vs. LQD vs. HYG YTD. Comment! [U.S. Economy, Financials]
Tuesday, January 8, 5:09 PM Gundlach: By at least one measure - comparing the Merrill Corporate Index to the Treasury Index - corporate paper is as overvalued as it's ever been in the history of the data (going back to 1985). Another relatively overvalued fixed-income class is emerging market debt (EMB). "I would not be putting any new money into that." 2 Comments [U.S. Economy]
Friday, January 4, 12:51 PM Investors want yield and treasurers/underwriters are happy to give it to them. A full 41% of investment grade corporate bond issuance was BBB (the lowest IG rating) in 2012, the highest proportion going back to at least 1998. Just 19% of issuance rated AA or AAA - only 1998's 17% was lower in the last 15 years. 4 Comments [Financials]
Friday, December 7, 2012, 12:57 PM More from Hudachek's Overlooked ETFs: Investment-grade and high-yield debt investors may have interest in Guggenheim's Suite of products offering a range of maturities - from very short-term all the way out to 2020. The shortest term IG fund is BSCC, junk is BSJC. To go longer maturity, just swap the last "C'' in the fund symbol for "D," and so on, all the way out to "K." Comment! [Quick Ideas]
Friday, December 7, 2012, 7:39 AM Duration risk in the investment grade bond market (LQD) is leading fund managers to reduce exposure. The average yield on IG bonds has fallen to 2.66% and bond math says it takes very little backup in yields from this point to wipe out a year (or years) of coupon payments. Corporate bonds often yield less than the equity of the same company - a rare situation, says Matt Eagan. "We think you have a better chance of preserving principal on the equity side." This from a bond man! 4 Comments [U.S. Economy, Financials]
Wednesday, November 28, 2012, 10:06 AM If a bond issued at par goes to 116, that's not a bubble, says original (bond) gangster Dan Fuss. "If it goes to 250, that's a bubble, and that doesn't tend to happen with bonds." The strong performance of fixed income reflects a strong market, he says, but one with room yet to grow. 3 Comments [U.S. Economy, Financials]

SCPB SPDR Barclays Capital Short Term Corporate Bond ETF

SCPB

SPDR Barclays Capital Short Term Corporate Bond ETF