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Rush of money continues into junk bonds

Published 09/29/2017, 07:52 AM
© Reuters.  Rush of money continues into junk bonds
US500
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CIK
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DHY
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EAD
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NHS
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HYLD
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HYG
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JNK
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ANGL
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SJB
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ACP
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AIF
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ARDC
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CIF
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DSU
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FHY_old
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GGM
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HIX
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HYT
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IVH
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JQC
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JSD
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KIO
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MCI
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MPV
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PHT
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  • Lipper reports retail funds as seeing inflows of $433M this week following last week's $865M - the largest in nine weeks.
  • The junkier the paper, the better, with CCCs showing month-to-date returns of 1.49% vs. 0.75% for single Bs, and 0.67% for BBs.
  • High-yield energy is particularly strong, with month-to-date returns of 3.42% vs. the S&P 500's 1.68%.
  • Needless to say, corporate treasurers are rushing out new issues, with energy dominating - accounting for one-third of new issuance this month.
  • Source: Gowri Gurumurthy at Bloomberg
  • 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: The Slowdown Is Happening


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