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Wednesday, June 05, 2013

PM Looks at Market Yield on the Ball Field

News summary by MFWire's editors

Sometimes, our personal interests don't align with our business interests, and it looks like Thomas Metzold can relate to that sentiment.

The Eaton Vance big-whig is a New York Yankees fan, but his loyalty isn't investment-proofed. When it comes to the bond market, he's rooting for the Mets, too, Bloomberg reports.

Though the Mets' finances took a famous beating amid the Madoff scandal, things are getting back on track, and are even catching up with the Yankees in the $3.7 trillion municipal-bond market.

Metzold maintains that he'd only favor Yankees' bonds over Mets ones if they were trading at the same yield. It's the very difference in yields that perks his interest–and his investment.

"The difference in yields is what creates a market," Metzold says. "You're constantly looking for bonds where the historic relationships are out of whack."  

Edited by: Nicole Spector


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