Saturday, December 16, 2017

© Reuters.  Junk bond issuance surged in October© Reuters. Junk bond issuance surged in October

  • via Bloomberg’s Gowri Gurumurthy
  • Treasurers took advantage of plunging spreads, pricing $23B in junk bonds in October, up 18% Y/Y and the busiest October since 2014.
  • Higher oil prices, strong corporate earnings, a steadily growing economy, and fading macro concerns were all positives.
  • Energy yields sunk to a five-month low of 6.33% late last month, and the sector about doubled the broader high-yield index’s 0.42% advance for October.
  • ETFs: HYG, JNK, DHY, HIX, PHT, HYLD, EAD, HYT, JQC, CIK, DSU, ACP, SJB, ANGL, NHS, MCI, KIO, ARDC, AIF, CIF, PHF, IVH, FHY, GGM, MPV, JSD
  • Now read: High Yield Bonds: Do Not Worry About Rising Rates

Original article

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