Izingozi eziphezulu, ukubuyiswa okuphezulu
Iimali eziphakamileyo eziphezulu zikaMasipala 101
Umvuno ophezulu we-munis zibophelelo zikhutshwa nguorhulumente okanye oorhulumente basekhaya abangenakunyulwa yi-arhente enkulu yokulinganisela okanye abanokulinganiswa kweentengo eziphantsi kwebakala lotyalo-mali.
Abatyalomali abanemveliso ephakamileyo ye-munis ngesizathu esicacileyo: banikela ngenzuzo ephakamileyo kunabalingani babo bebakala lokutshala-mali - ngokuqhelekileyo ngumgama wee-pesenti ezintathu-kwaye abanakho ukuhlawula irhafu kwinqanaba le-federal, ngamanye amaxesha kumanqanaba karhulumente nakwamanye amazwe njengokuba. Nangona kunjalo, kwesi sivuno esiphezulu sifikehluko obalulekileyo xa kuthelekiswa ne-market grade grade:
Ubutyebi : I-market ye-market ye-intanethi yeyona mveliso incinci kakhulu kwinani lentengiso-mali, ngoko ke "kuninzi". Kubatyalomali kwiimali zentengiso okanye ngemali yokuthengiselana ngemali, oku akunjalo; oko kuphela kudlalwa kubatyalomali kwii-securities ngabanye. Nangona kunjalo, oko kuthetha ukuba isivuno esiphezulu se-munis sinokubangela umonakalo omkhulu xa amaxabiso amabhondi eyancipha.
Uluhlu lweengozi ezahlukeneyo : Nangona iibhanki zikamasipala otyalo-mali zichaphazeleka kakhulu ngengozi yemingcipheko kunye nefuthe elingaphantsi komngcipheko weebhanki, ngokuqhelekileyo ukunyaniseka ukuvelisa isivuno.
Ngamanye amazwi, ukusebenza kuqhutyelwa ngakumbi ngamandla ombonelelo wabakhuphayo abangaphantsi kwezinto ezihambayo kwiirhafu zenzalo. Kuthetha ukuba isivuno esiphezulu seMunis sithintela ukuguqulwa koqoqosho kwimiba yebakala lotyalo-mali. Isivuno esiphezulu seMunis, ngoko ke, sinikeza umlinganiselo weendlela ezahlukahlukeneyo kwiipotifoliyo ezinzima kakhulu kwiibhondi eziphezulu.
I-Higher Default Risk : Ngethuba lokusukela ngo-1970-2011, kuphela i-0.8% yeebhanki zamasipala ezilinganiselwe ibakala lokutshala imali (okungukuthi, lehlulekile ukwenza inzala okanye inkokhelo enqununu) kwiminyaka elishumi emva kokukhutshwa. Ngokwahlukileyo, i-7.94% yeebhanki ezingaphantsi kwe-investi-bhonsi ezibekwe phantsi ngeli xesha. Ibonisa ukuba umngcipheko ongasetyenziswayo, ngelixa ingakhange iphakame ngokukodwa, iphakamileyo kakhulu ngaphantsi kwe-grade-investing-grade issue-ingxaki xa kukho ubutyebi obuthakathaka bubandezela ngemali yoorhulumente noorhulumente basekuhlaleni.
Ukunyaniseka ngakumbi : Njengokuba kunjalo njalo, isivuno esiphezulu sithetha umngcipheko ophezulu . Ngenxa yoko, ukuguqulwa kwamanani kunokuba kuninzi kunomlinganiselo ophezulu weemveliso ze-muni ziqhathaniswa nemibandela yebakala lotyalo-mali.
Nasi umzekelo ogqithiseleyo: ngexesha lokuphakama kweengxaki zemali ekupheleni konyaka we-2008, izibophelelo eziphezulu ezivunayo zikamasipala zilahlekelwe malunga nama-20-25% kwiinyanga ezintathu ezintathu ukususela ngoSeptemba ukuya kuNovemba. Ngokwahlukileyo, iimali-mali zokuhlawula imali zichithe malunga nama-10-13%. Eli lixesha elikhethekileyo, kodwa lisebenza ukubonisa ukuba izibophelelo eziphezulu ezivunayo zengozini yokulahleka okukhulu kunokuba izibophelelo zebakala lotyalo-mali xa kuthengiswa imarike.
Ukubuyiselwa kwexesha elide : Nangona ingozi ephakamileyo ingakhokelela ekuveliseni izivuno eziphezulu, akuthethi ukuba kukho ukubuyiswa kwamaxabiso aphezulu ngexesha elithile.
Ngomhla kaJanuwari 31, 2014, umzekelo, ukubuyiswa kweemali eziqhelekileyo kunyaka-mali kwi-Morningstar's High Yield Municipal Bond Funds yayingu-3.67%, ngokuhambelana nokubuyiswa kwe-3.50% kwiSizwe seMali esiPhakathi seMali.
Abo baqwalasela izibophelelo eziphezulu zemveliso zikamasipala kufuneka baqikelele le miba xa becinga ukuba isivuno esithe xaxa sibahlawulisa ingozi engaphezulu. Isivuno esiphezulu seMunis sisona sifanelekileyo kubasomali abanomdla okanye abo bahlala kwixesha elide elibavumela ukuba bathathe ixesha elifutshane lokutshatyalaliswa kwexesha elifutshane.
Ngaba Ngaba Ufanele Ube kwiimpahla zeMasipala kwindawo yokuqala?
Ngaphambi kokugqiba isigqibo se-portfoliyo yakho ukuba utyalole kwimveliso ephezulu ngokubhekiselele kwibakala lotyalo-mali, okokuqala kuyimfuneko ukunquma ukuba ngaba, ngokwenene, kufuneka uhlawule irhafu, kunokuba ihlawulwe irhafu.
Ngokuqhelekileyo, abatyali-mali kwiibhanki zerhafu ezincinci baphelele ekugqibeleni, ngelixa abo bakwii-bracket eziphezulu bazuza kwiintlawulo zerhafu. Ukufumanisa ukuba ngaba kufuneka uqwalasele izibophelelo ezihlawulwayo okanye zerhafu, nqakraza apha .
Indlela yokuTyala imali kwiiMali eziMgangatho oPhezulu
Ekubeni isantya sokungagqibekanga phakathi kwamasheya athile aphezulu kummandla weemarike, ngaba kuphela abatyebileyo, abatyala-mali abanamathuba amaninzi kufuneka bazame ukwakha iipotfoliyo zabo ezizibopheleleyo zamasipala. Ngethamsanqa, kukho ininzi yezikhetho ezitholakalayo kwiingxowa-mali kunye kunye neengxowa -mali ezithengiswayo (ETFs). Uluhlu olupheleleyo lweengxowa-mali zobudlelwane bezivumelwano zomasipala, kunye nentlawulo ye-one-, emithathu, kunye neyeeminyaka emihlanu, ubuya kwi-Morningstar. Kukho ezimbini ze-ETF ezijolise kwiklasi ye-asethi: I-SPDR iNveen S & P ephezulu yokuThengisa uMasipala we-ETF (i-ticker: i-HYMB) kunye neeVekethi zeMatriki I-Index-Bond ye-Bond Index ye-ETF (HYD), enokuthengwa nge-akhawunti ye-brokerage.
Ngaphantsi
Isivuno esiphezulu se-munis 'sivuno siphumo sinokungenelela ngaphezu kwexesha, kodwa qiniseka ukuba uqonde ngokupheleleyo iingozi ngaphambi kokuba utyalomle.
Ukuziphendulela : Ulwazi olukule ndawo lunikezelwa ngeenjongo zengxoxo kuphela, kwaye akufanele lithathwe njengengcebiso-mali. Ngaphandle kweemeko ngaba le nkcazelo ibonisa isincomo sokuthenga okanye ukuthengisa iziqinisekiso. Soloko ubonisana nomcebisi-mali kunye neengcali zerhafu ngaphambi kokuba utyale.