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Investor confidence returns to junk bond market

Published 09/13/2017, 07:33 AM
© Reuters.  Investor confidence returns to junk bond market
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  • Things were wobbly for a couple of weeks, but stocks are setting new highs, the VIX is back on the decline, and junk-bond yields have dipped to within shouting distance of three-year lows set in early August, reports Bloomberg's Gowri Gurumurthy.
  • There's been a flood of issuance post-Labor Day, with another $3.865B of paper priced yesterday - the busiest day since June. There's another $4B ready to price this week, and already $8B more set to follow that.
  • Investor demand was 3x-4x the size of the offering.
  • 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: September Swoon In High Yield


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