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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  GET Holdings Limited    8100   BMG3867N1406

GET HOLDINGS LIMITED

(8100)
End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 11/15
0.41 HKD   +1.23%
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Buying muni bonds during this episode of congressional dysfunction could be a good time to capture better income

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10/02/2013 | 03:55pm EST


ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

The US government shuts down. Yes. What is the impact on the muni market?

JIM KOCHAN, CHIEF FIXED INCOME STRATEGIST, WELLS FARGO (ENGLISH) SAYING:

I think it's going to be minimal, particularly if it's a short episode. But some people worry about federal grants to state and local governments. They may be delayed but eventually they'll be made up. So in the broad scheme of things, this is not a particularly major event for the municipal bond market in my view.

ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

So there's nothing you should do differently if you're holding muni bonds in light of the headlines?

JIM KOCHAN, CHIEF FIXED INCOME STRATEGIST, WELLS FARGO (ENGLISH) SAYING:

Oh no, absolutely not; stay with what you're doing.

ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

I guess the bigger worry is the debt ceiling. Yes. And Moody's actually this week said that the muni market would be jeopardized if Congress doesn't raise the debt ceiling. How should investors prepare if we then see that fight turn out to be unsuccessful?

JIM KOCHAN, CHIEF FIXED INCOME STRATEGIST, WELLS FARGO (ENGLISH) SAYING:

Well, it's going to be a difficult episode, no question about it. The primary impact, of course, is going to be on treasury securities because there's going to be fear of a treasury default. In our view, it isn't going to happen. The treasury will not default on its debt. But that fear is going to be out there, no question about it, and that can affect treasury yields. And if treasury yields go up because of selling, municipal yields will follow. But it's going to be a brief episode and it may not happen at all. So I think what has been working for muni investors, and that is to be investing for income and we have better income now than we did a month- well, three months ago than we did in April-May, just stay with a portfolio strategy that emphasizes buying securities that throw off good income or buying funds that throw off good income.

ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

But it sounds like, at the same time, you should potentially be prepared for some volatility.

JIM KOCHAN, CHIEF FIXED INCOME STRATEGIST, WELLS FARGO (ENGLISH) SAYING:

Oh, there's going to be some volatility, that's correct, unless by some stroke of luck they pass a debt ceiling bill well- they raise the debt ceiling well before we get up to crunch time. But yes there's going to be some volatility, perhaps even something of a buying opportunity through this episode because you know they're going to pass the debt ceiling. Eventually, it's going to get passed. And so if there are any significant increases in market yields, this might be an opportunity to capture a little bit better income.

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Managers
NameTitle
Long Zhang Chief Executive Officer & Executive Director
Jing Shong Wong Chairman & Compliance Officer
Tsan Kit Chui Independent Non-Executive Director
Yung Chan Independent Non-Executive Director
Hong Kei Cheng Independent Non-Executive Director
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