New York, June 3 - The UBS Warburg global convertibles index rose 0.6% in May, pulling it into positive territory for the year so far with 0.4% gain.
However both the U.S. component and the euro component, denominated in euros, lost ground in the month, U.S. convertibles falling 0.9% and the euro component 1.7%. U.S. convertibles are now off 2.4% year to date while the euro component is down 2.0%.
Within the U.S. market, vanilla convertibles declined 0.5% in May while mandatories fell 3.3% for year-to-date losses of 0.9% and 10.2% respectively.
Investment-grade U.S. convertibles held up better than junk and non-rated issues but still dropped 0.2% while the lower rated group fell 1.8%. U.S. investment grade is now ahead just 0.1% so far in 2002 while junk and non-rated are down 5.3%.
UBS Warburg Global Convertible Index
| May 31 | Apr. 30 | Month % | Dec. 31 | YTD %
|
| Global | 133.5 | 132.7 | 0.6% | 133.0 | 0.4%
|
|
|
| European (€) | 132.8 | 135.1 | -1.7% | 135.5 | -2.0%
|
| US | 153.4 | 154.8 | -0.9% | 157.1 | -2.4%
|
|
|
| US Vanilla | 154.5 | 155.2 | -0.5% | 155.9 | -0.9%
|
| US Mandatory | 156.8 | 162.2 | -3.3% | 174.6 | -10.2% |
|
|
|
| US Invest Grade | 140.1 | 140.4 | -0.2% | 140.0 | 0.1%
|
| US Sub BBB & NR | 155.8 | 158.6 | -1.8% | 164.5 | -5.3%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
