Sorry for the lack of posts last week. I was out-of-town at a BBQ competition down near Louisville, KY and stayed pretty busy with that. Had a great time with family but now I’m back!
This week’s post takes a look at the high yield corporate bond space, specifically iShares iBoxx USD High Yield Corporate Bond Index (HYG). It seems the ETF has found some support and I take a look at those levels and what I’ll be watching going forward.
Here’s a piece:
With this weakness it seems high yield corp. bonds have found some support. Looking at the uptrend that began in November and was halted in May, HYG has retraced 50% of the move. This is healthy and commonly viewed as normal market action. The bond ETF has been able to stay above its 200-day moving average (orange line), which has continued to rise and may act as additional support if HYG drops further.
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer.
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Has High Yield Found Support?
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