Nzira mbiri dzekuwana
Nezvo zvakati, pane nzira mbiri dzekutora zvibereko zvakakwirira mumusika wezvisungo.
Chokutanga, zvisungo zvekugara kwenguva refu zvinowanzopa zvibereko zvakakwirira kudarika vashandi venguva pfupi . Chikonzero cheizvi chiri nyore: sezvo zvakawanda zvingaenda zvisina kunaka nehutori wehutano mumakore gumi kusvika kumakumi matatu emakore kupfuura munguva shomanana, vatengi vanoda mari yekubhadhara nekuda kwehuwandu hwehuwandu. Ramba uri mupfungwa, zvisungo zvekupedzisira-kwenguva yakawanda zvinowanzova zvisinganyanyi kuderera pane zviduku-zvenguva, saka hazvifananidzi kune varairi vese.
Uyewo, pane dzimwe nguva iyo nyaya dzenguva refu dzisingatauri zvakawanda zvekuwedzera pane zviduku-zvidzitiro zvechirevo - chiitiko chinozivikanwa segorofu yemichero yenguva . Kana izvi zviri izvo, vashandi vangave vasati vava kuwana kukodzera kuripo kwezviitiko zvinowedzera zvezvisungo zvenguva refu.
Vashandi vanogonawo kuwana zvibereko zvakakwirira muzvikamu zvemashamba emabhangi anouya nepamusoro-muvhareji yechikwereti chekwereti . Nzvimbo shanu dzekambani yezvisungo iyo inomira nokuda kwekugona kwavo kugovera pamusoro-chiyero chezvibereko:
Investment Grade Corporate Bonds
Bhutisheni dzehurumende inzira inotadza kune vashandi kuti vatore mimwe michero, kunyanya kana vakaisa pfungwa pahupamhi hwepamusoro uye / kana nguva shomanana. Kubva muna 1997 kusvika muna 2012, kushandiswa kwekodhi-mabhizimisi emabhandi emabhizimisi zvakasiyana-siyana zvichienderana nezvibereko zvinosvika 1.67 kubva muzana kubva kuUnited States.
Shanduko yezvibereko zvakakwirira ndeyekukwirira kwengozi kudarika mutengi aizotarisana muHaimari sezvo hurumende inokonzerwa nehuwandu hwehuwandu hwehuwandu hwehuwandu (iyo inokonzerwa nehuwandu hwekutengesa pamitengo) uye nengozi yechikwereti (kureva, kuchinja mune hutano hwemari vanotora).
Nokufamba kwenguva, vatori vemari vakabhadharwa nekuda kwengozi iyi: mumakore gumi apera musi waAugust 31, 2013, Bharclays Corporate Investment Grade Index yakabudisa chiyero chegore negore chekudzoka kwe5,57%, kupfuurira 4.77% kudzoka kwebato rekutsvaga mabhizimisi emabhengi, sezvakanyorwa neBarclays US Aggregate Bond Index. Nguva yakareba yezvisungo zvesangano yakaitwa kunyange zviri nani, zvichiita kuenzana kwegore negore kudzoka kwe 6.82%. Asi nguva dzose ramba uchifunga kuti izvo zvikwata zvehurumende zvinotitaurira zvakarurama ndezvechokwadi: kushanda kwekare kare haisi chivimbo chezviitiko zveramangwana.
Kukurukurira Zvakakwirira Zvikwereti
Kudhura kwehutano hwepamusoro kune imwe yenzvimbo dzisingabhadharwi pamusika wezvisungo, uye kukanganisa kwavo kunowanzoswedera kune izvo munhu anokwanisa kutarisira kubva mumatanda. Zvisinei, hupfumi huripo huri kuramba huri humwe hutsva hutsvaga hutsva pakati pevaya vanodikanwa kusimbisa mari yavo. Kubvira muna 1997 kusvika muna 2012, huwandu hwezvibereko zvakakonzerwa nezvibereko zvinokwana 6.01 muzana mapeji pamusoro peAmerica eMari.
Mumakore gumi apera musi waAugust 31, 2013, kudzoka kweWe Credit Suisse High Yield Index, kwakabudisa chiyero chegore rose chekudzoka kwe8,78%. Kudzoka kwakapfuura nhatu kubva muzana yepamusoro inotapira kupfuura yekutengesa mabhizimisi ebhizimisi uye mberi kwepamusoro pamatengesi emabhizimisi, sezvakakonzerwa ne 7.11% yepamusoro yekudzoka kwegore kweS & P 500 Index. Kuzvipira kwehutano hwepamusoro kunogona, saka, kuva chimwe chezvinhu zvakakosha zvakakosha zvepforeti yemari - chero bedzi uchinetseka nezvengozi.
Mari yeMatanho eNhanho
Vhudhi -mboti yepamusoro inzvimbo yakashata yeassetsi yakawanda inowedzera mukurumbira pakati pevatengesi vanotsvaga kutsvaga nzira dzakakwirira. Mathura makuru anonziwo zvikwereti zvakabhadharwa kana zvikwereti zvebhangi zvakabatanidzwa, mabhanga ezvikwereti anoita masangano uye anobva atora uye anotengesa kune vatengesi. Sezvo huwandu hwezvikwereti zvikwereti zvebhangi huchiitwa kumakambani akaenzaniswa pasi pekutsvaga bhaji-bhizimusi, zvivimbiso zvinowanzova nezvikwereti zvakakwirira kudarika iyo inowanzoita bhaji-bhizinesi bhizinesi yehurumende.
Panguva imwe chete, zvikwereti zvakakura zvinowanzopa zvibereko zvinosvika 1-2% pasi pehuwandu hwehutano huripo sezvo zvisungo zvisiri izvo zvisingatambudziki kutadza, uye mari inoshandiswa munzvimbo ino inowanzosava yakawanda kupfuura iyo inotarisa pazvibereko zvepamusoro. Chimwe chezvinhu zvinonyanya kukosha zvebhadharo yebhangi ndeyekuti vane mafungu anotenderera , izvo zvinopa chinhu chekudzivirirwa pakukwira kwemari . Mari dzinoshandiswa muzvikwereti zvakakura zvinogona kutarisirwa kugovera zvikwereti zvinenge zviviri kana zvitatu mapeji epamusoro pamusoro pekuwedzera-kukura US Treasury funds.
Mamwe Makosheni Edzimhosva uye Mahombekedzo Kugovera Bonds
Kusvikira munguva pfupi ichangopfuura, pakanga pane zvishoma zvingasarudzwa zvekutsvaga mune zvekambani nepamusoro-bhizimiso zvisungo zvakabudiswa nemakambani kunze kweUnited States. Nhasi, zvakadaro, kudiwa kwekusimudza-kutora zvikwereti kwakakonzera kuberekwa kwemari yakawanda pamwe chete uye mari inoshandiswa-kutengeserana mari yakatsaurirwa munzvimbo iyi. Zvibereko zvakakwirira: mari iyi nzvimbo ichapa zvibereko chero kupi zvako kubva pamatatu kusvika matanhatu kubva muzana mapeji anopfuura hurumende yehurumende yehurumende yeUnited States. Asi zvakare, kungwarira zvakakosha: njodzi dzakakwirira pano, uye apo magetsi anokonzerwa nehupfumi hwezvematongerwe enyika kana makuru makuru emitambo yezvematongerwo enyika, aya mari achaitora pachiri. Kunyange zvakadaro, avo vane nguva yakareba yenguva refu uye kushivirira kwepamusoro kune njodzi vanogona kushandisa zvitsva izvi uye zvishoma nezvishoma kuti vawedzere mari yavo yekuwedzera uye kuwedzera maitiro avo ehupfumi.
Kubhadharwa Kwepamusoro Zvikwereti zveMaspala
Vashandi vematare ehurumende yakakwirira vane sarudzo yekutsvaga mari yepamusoro-kubhizimisi masangano , izvo zvibvumirano zvakabudiswa nemasangano ehurumende ane kukohwa kwechikwereti chiduku. Mari inoshandiswa munzvimbo iyi inowanzopa zvibereko zvinokwana 1.5 - 2.5 kubva muzana mapeji pamusoro pemari inotarisa kune huwandu hwekutsvaga mabhizimisi munis (pamutambo wekutangira). Kunyange zvazvo kushaya simba kwakanyanya munzvimbo ino yemusika, varimi venguva yakareba vave vachibhadhara nekuda kwezvipingamupinyi. Nokuda kwechikamu kune zvibereko zvavo zvakanakisa, zvibereko zvepamusoro-mheni zvakaparadzanisa kudyidzana kwevadzidzi-girasi pamusoro pemakore gumi adarika.
Kuwana Kubudirira Kunze kweBond Market
Kunewo huwandu hwehuwandu hunokwidziridzwa (uye hukuru hwehuwandu) huri kunze kwemushamba wemabhengi, kusanganisira:
- Convertible bonds
- Kugovera-kubhadhara zvikwata
- Utility mashizha
- Real estate investment trusts
- Tenzi mashoma kubatana (MLPs)
- Nzvimbo dzakasarudzwa
Idzi ruzivo rwechirongwa ichi runopiwa nekuda kwekutaurirana chete, uye harifaniri kutorwa sezvipo zvekutsvaga mari. Pasinei nemamiriro ezvinhu iyo ruzivo runomiririra hutungamiri kutenga kana kutengesa zvigumisiro. Taura nemudzidzisi wekutsinhanisa uye / kana muteresi wezvemitero usati waita mari.