BofA Merrill Lynch Emerging Markets Corporate Plus Index Effective Yield (BAMLEMCBPIEY)
2014-03-13: 5.04 Percent
Daily, Not Seasonally Adjusted, Updated: 2014-03-14 7:46 AM CDT
|Source:|| BofA Merrill Lynch
|Release:||BofA Merrill Lynch|
This data represents the effective yield of the BofA Merrill Lynch Emerging Markets Corporate Plus Index (http://research.stlouisfed.org/fred2/series/BAMLEMCBPITRIV?cid=32413), which tracks the performance of US dollar (USD) and Euro denominated emerging markets non-sovereign debt publicly issued within the major domestic and Eurobond markets. To qualify for inclusion in the index, the issuer of debt must have risk exposure to countries other than members of the FX G10 (US, Japan, New Zealand, Australia, Canada, Sweden, UK, Switzerland, Norway, and Euro Currency Members), all Western European countries, and territories of the US and Western European countries. Each security must also be denominated in USD or Euro with a time to maturity greater than 1 year and have a fixed coupon. For inclusion in the index, investment grade rated bonds of qualifying issuers must have at least 250 million (Euro or USD) in outstanding face value, and below investment grade rated bonds must have at least 100 million (Euro or USD) in outstanding face value. The index includes corporate and quasi-government debt of qualifying countries, but excludes sovereign and supranational debt. Other types of securities acceptable for inclusion in this index are: original issue zero coupon bonds, “global” securities (debt issued in the US domestic bond markets as well the Eurobond Market simultaneously), 144a securities, pay-in-kind securities (includes toggle notes), callable perpetual securities (qualify if they are at least one year from the first call date), fixed-to-floating rate securities (qualify if the securities are callable within the fixed rate period and are at least one year from the last call prior to the date the bond transitions from a fixed to a floating rate security). Defaulted securities are excluded from the Index.