Zions Direct Announces Corporate Bond Auction Results

Auctions of Corporate Bonds for Week Ending June 17, 2011

Marketwired

SALT LAKE CITY, UT--(Marketwire - 06/22/11) - 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 June 13, 2011 to June 17, 2011, investors purchasing corporate bonds in the auctions received average taxable yields 0.66 percentage points, or 66 basis points, higher than comparable bonds reported in FINRA's Trade Reporting and Compliance Engine (TRACE).Zions Direct, in conjunction with BondDesk Group LLC, regularly publishes a Market Snapshot for investors to help understand the current bond market, summarizing current weighted-average yields of investment-grade municipal and corporate bonds. Findings are compared against similar securities auctioned at Zions Direct Auctions (www.auctions.zionsdirect.com). Since February 2007, Zions Direct has auctioned over 850 million dollars in more than 3,000 fixed-income auctions.ZIONS DIRECT / BONDDESK® MARKET SNAPSHOTCorporate Bonds' Average Yields Trade Data (source: FINRA's TRACE)

 
2011 - 2012 2012 2013 2014 2016 2018 2021
Rating AAA 0.14% 0.27% 0.53% 1.16% 1.96% 3.21% 3.58%
AA 0.34% 0.55% 0.95% 1.85% 2.49% 3.52% 4.52%
A 0.43% 0.75% 1.24% 1.87% 3.04% 3.82% 4.68%
BBB 0.72% 0.93% 1.45% 2.15% 3.19% 4.25% 4.80%
Corporate Bond Auction Comparison Data (auction data from auctions.zionsdirect.com)
 
Issuer Term Rating Auction Yield TRACE Difference
Avg Yield (basis points)
Snap-On Inc 2 Month BBB 1.25% 0.72% 53
General Electric
Capital 11 Month AA 1.65% 0.55% 110
Suntrust Banks 17 Month BBB 2.49% 0.93% 156
Cigna Corp 4 Month BBB 1.25% 0.72% 53
Hewlett-Packard Co 9 Month A 1.29% 0.43% 86
Dell Inc 22 Month A 1.40% 1.24% 16
Bank of America /
Merrill Lynch & Co 1 Month A 1.10% 0.43% 67
Costco Wholesale Corp 9 Month A 1.30% 0.75% 55
General Mills Inc 15 Month BBB 1.27% 0.93% 34
Credit Suisse USA Inc 2 Month AA 0.84% 0.34% 50
Time Warner Inc 11 Month BBB 1.70% 0.93% 77
Praxair Inc 2 Year A 1.75% 1.24% 51
Bank of America 2 Month A 0.96% 0.43% 53
JP Morgan / Bear
Stearns Co 8 Month A 1.15% 0.43% 72
Federal Express Corp 1 Year BBB 1.49% 0.93% 56

Average Difference 66
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.About Zions Direct
Zions Direct is a broker-dealer that specializes in offering securities for self-directed and fixed income-focused investors. Zions Direct allows retail investors to buy FDIC-insured certificates of deposit and corporate and municipal bonds through its web-based Bond Store (www.bondstore.com) and auction platforms. In addition, clients can invest in stocks, mutual funds, and exchange-traded funds online or through a Zions Direct financial representative.About 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.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 June 21, 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 June 17, 2011. The aggregate rating for each bond is based on average ratings from Moody's and S&P (when available).Although 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.Terms are defined as follows:
Contact:





View Comments (0)