The average bond yield on a basket of 13 government bonds, as calculated by the Swiss National Bank, fell 1 basis point to 3 . 42 percent Friday.
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The average bond rating is a " BB +, " which is Standard & AMP; Poor's Corp .'s highest rating for high-yield bonds, and therefore the lowest yielding.
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That's a fair price, when the current lower-than-average bond yield is taken into consideration, says Philip Orlando, president of $ 5 . 5 billion Value Line Asset Management.
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The average closed-end stock fund trades at a 7.5 percent discount to NAV and the average bond fund is priced at a 6.8 percent discount, Lipper Analytical reported.
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The average bond manager earned 16.02 percent through November, according to Lipper Analytical Services, about a percentage point and a half behind Lehman's index for the 11 months.
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A fair price, when the lower-than-average bond yield is taken into consideration, said Philip Orlando, chief investment strategist at Value Line Asset Management, with $ 7 billion in assets.
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But, he said the cash flow into bond funds has been surprisingly strong, " even though the performance of the average bond fund has not been that great ."
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"It's been good year for closed-end fund investors because the average U . S . equity fund was up 27.5 percent and the average bond fund was up 21.5 percent,"
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The average bond manager earned 16 . 02 percent through November, according to Lipper Analytical Services, about a percentage point and a half behind Lehman's index for the 11 months.
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Stock funds gained an average 8.03 percent in May, exceeding the 6.08 percent rise of the Standard & Poor's 500 Index, while the average bond fund rose 1.19 percent, Micropal reported.
