It also sees the government as ready to bailout senior bondholders in Credit Suisse and UBS but heavily downgrades ratings on subordinate debt on the assumption that, should the banks in Zurich get in trouble again, Geneva might take the radical Marxist action of letting investors in highly speculative uninsured bonds
actually experience some capitalism.
Analyzing bond data in the early 1980's, Carpenter (1991) found that insured bonds had a yield 87 percent lower than uninsured bonds
For example, spreads for uninsured AAA-rated and AA-rated bonds were negative, meaning that the insured bonds actually had higher yields than the uninsured bonds
Moreover, the change may increase the funds' income yields over time because uninsured bonds
historically offer higher yields than insured bonds.
The series 2011 bonds will be issued by Monongalia County Building Commission as 30-year fixed-rate uninsured bonds
with final maturity in July 2041.
However, Vanguard expects the policy change will have a favorable impact on the fund's yield because uninsured bonds
typically carry higher yields than insured bonds.
The Company regularly reviews its investment portfolio for other-than-temporary impairment declines in fair value considering, among other things, the underlying credit quality of any insured or uninsured bonds
In today's market, the yield on AAA insured bonds is generally higher than the yield on AA uninsured bonds
Casselberry's uninsured bonds
are rated "A" by Fitch.
The Company regularly reviews its investment portfolio for other than temporary impairment declines in fair value considering, among other things, the underlying credit quality of any insured or uninsured bonds
300 million of MBIA insured revenue bonds rated `AAA' (Triple-A), and will issue approximately $60 million of uninsured bonds
in the near future.
28, 2008, are in connection with the cancellation of bond insurance policies previously issued to secure payment of regularly scheduled principal and interest payments on the bonds; the replacement of various liquidity facilities which provided purchase price for tendered bonds; and the reoffering of the bonds as uninsured bonds
expected to occur on Aug.