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Corey Mahoney

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Investment Grade Bond Research - July 29, 2019

Posted by Corey Mahoney on Aug 1, 2019 3:09:07 PM

INVESTMENT GRADE DEBT ROSE AGAINST JUNK BONDS in net prices linked to actual trades.  Car sales are expected to slump in July as increased costs drove prices higher preventing Americans from signing on the dotted line.  Sales are expected to dip by 1.8 percent. Despite the recent slowdown auto dealers are not concerned, “While trade risk remains a threat, transaction prices continue to rise and economic growth is moderating, sales in the second half of the year could outperform expectations.” The 10-year note lost 0.8 basis points.  S&P -0.18%, DOW +0.11%, NASDAQ -0.45%.

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Topics: High Yield, Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, Finance, Fixed Income, News, Syndicated Bonds, syndicated, research, market update

European Bond Research - July 29, 2019

Posted by Corey Mahoney on Aug 1, 2019 3:01:53 PM
FRENCH PHARMACEUTICAL GIANT SANOFI RALLIED ON MONDAY following revised full-year earnings guidance suggesting 5 percent growth, the  stock  advanced 2.31 percent .  Sanofi bonds  also traded notably higher in particular,   Sanofi (EUR) 1.25% 3/21/2034.  The growth was driven by the launch of a new brand Dupixent, in addition,   “Our increased focus in R&D delivered important results with several positive data read-outs and the achievement of regulatory milestones.”   FTSE 100 +1.87%,  German DAX +0.06%,  CAC 40  -0.06%,  STOXX Europe 600  +0.18%.  The   10-year  Gilt lost 3.6 basis points.
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Topics: Analytics, bonds, junk bonds, bond market, corporate bonds, market analytics, New Issues, News, research, EU, market update, European

Investment Grade Bond Research - July 26, 2019

Posted by Corey Mahoney on Aug 1, 2019 2:56:33 PM

U.S. DURABLE GOODS ORDERS SURGED BY 2 PERCENT IN JUNE largely due to an increase in civilian aircraft orders. Core capital goods orders rose 1.9 percent on year-over-year basis suggesting the economy is picking up steam after two months of weak data. “The U.S. economy is stronger today because the rest of the world is in a recession. That’s not the way it’s supposed to work, but that’s the way it’s working now. Because the rest of the world is in a recession, our interest rates are scraping bottom. And because our interest rates are scraping bottom, our economy is actually doing pretty darn well,” said Todd Buchholz, former White House director of economic policy under President George H.W. Bush  “Eighty-eight percent of our economy has pretty much nothing at all to do with exports or imports.”

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Topics: High Yield, Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, Finance, Fixed Income, News, Syndicated Bonds, syndicated, research, market update

High Yield Bond Research - July 26, 2019

Posted by Corey Mahoney on Aug 1, 2019 2:49:35 PM
U.S. DURABLE GOODS ORDERS SURGED BY 2 PERCENT IN JUNE largely due to an increase in civilian aircraft orders.   Core capital goods orders rose 1.9 percent on year-over-year basis suggesting the economy is picking up steam after two months of weak data.   “The U.S. economy is stronger todaybecause the rest of the world is in a recession. That’s not the way it’s supposed to work, but that’s the way it’s working now. B ecause the rest of the world is in a recession, our interest rates are scraping bottom. And because our interest rates are scraping bottom, our economy is actually doing pretty darn well,” said Todd Buchholz,   former White House director of economic  policy under President George H.W. Bush   “Eighty-eight percent of our economy has pretty much nothing at all to do with exports or imports.”
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Topics: Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, News, Syndicated Bonds, syndicated, research, market update

European Bond Research - July 26, 2019

Posted by Corey Mahoney on Jul 26, 2019 12:13:28 PM
EUROPEAN JUNK BONDS SLIGHTLY edged out investment-grade debt in net prices linked to actual trades following a day after the   European Central Bank’s   decision  to hold interest rates. ECB President   Mario Draghi  said the economic outlook is   “getting worse and worse”  referring to manufacturing dragging the economy lower. FTSE 100 +0.81%,  German DAX +0.44%, CAC 40 +0.55%, STOXX Europe 600+0.31%. The   10-year  Gilt lost 1.9 basis points.
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Topics: Analytics, bonds, junk bonds, bond market, corporate bonds, market analytics, New Issues, News, research, EU, market update, European

European Bond Research - July 25, 2019

Posted by Corey Mahoney on Jul 25, 2019 1:47:22 PM
THE EUROPEAN CENTRAL BANK SIGNALED FOR ADDITIONAL MONETARY EASING in the months ahead resuming its   mass bond-buying program  in November.  TD Securities Analysts say, The ECB   “is clearly preparing for a package of policy easing in September.”  Negative interest rates have   rippled across Europe offering investors no incentives to purchase sovereign bonds.    FTSE 100 -0.20%,  German DAX -1.61%,  CAC 40  -0.82%,  STOXX Europe 600  -0.82%.  The   10-year  Gilt advanced 2.1 basis points.
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Topics: Analytics, bonds, junk bonds, bond market, corporate bonds, market analytics, New Issues, News, research, EU, market update, European

European Bond Research - July 24, 2019

Posted by Corey Mahoney on Jul 24, 2019 12:31:17 PM
EURO ZONE PMI PLUMMETED IN JULY  as   German manufacturing  hits a seven-year low suggesting   further deterioration within the European economy;   PMI across the Euro Zone fell from 52.6 to 51.4. The   German automotive industry significantly contracted, however, the labor market and household spending remains robust preventing an all-out recession. “ The health of German manufacturing went from bad to worse in July.” FTSE 100 -0.70%,  German DAX +0.39%, CAC 40 +0.18%, STOXX Europe 600  +0.50%. The 10-year  Gilt lost 1.1 basis points.
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Topics: Analytics, bonds, junk bonds, bond market, corporate bonds, market analytics, New Issues, News, research, EU, market update, European

European Bond Research - July 23, 2019

Posted by Corey Mahoney on Jul 23, 2019 12:41:31 PM
EUROPEAN MARKETS RALLY FOLLOWING a number of   upbeat earnings   propelling  the indices higher on Tuesday.  The DAX gained nearly 2 percent as   German luxury automotive giant Daimler spiked 4.77 percent following an announcement Chinese automotive group BAIC bought a five percent stake in Daimler.    FTSE 100 +0.8%,  German DAX +1.93%,  CAC 40  +1.26%,  STOXX Europe 600  +1.20%.  The   10-year  Gilt dipped 2.4 basis points. 
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Topics: Analytics, bonds, junk bonds, bond market, corporate bonds, market analytics, New Issues, News, research, EU, market update, European

European Bond Research - July 22, 2019

Posted by Corey Mahoney on Jul 22, 2019 12:02:12 PM
EUROPEAN MARKETS INITIALLY EDGED HIGHER as investors await the  critical European Central Bank policy meeting update on Thursday.  The central bank will disclose if they will cut the interest rate or wait until the next meeting in September.  Investors will focus on   Mario Draghi  and how dovish his remarks are gauging the state of the economy.   “Largely European markets are lacking direction and probably shaping up for the ECB meeting this week.”   FTSE 100 +0.04%,  German DAX +0.22%, CAC 40+0.08%,  STOXX Europe 600  +0.02%.  The   10-year  Gilt dipped 1.4 basis points.
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Topics: Analytics, bonds, junk bonds, bond market, corporate bonds, market analytics, New Issues, News, research, EU, market update, European

Investment Grade Bond Research - July 17, 2019

Posted by Corey Mahoney on Jul 17, 2019 5:12:33 PM

INVESTMENT GRADE DEBT ROSE AGAINST junk bonds in net prices linked to actual trades. Total assets in US money market funds retreated from nearly 10-year highs last week as yields fall. Traders are estimating a 65 percent chance of a 25 basis point cut. “Even though the Fed will almost certainly cut rates at the end of the month, additional cuts depend heavily on the balance of economic data.” S&P-0.47%, DOW -0.30, NASDAQ -0.24%  The 10-year note dipped 4.6 basis points.

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Topics: High Yield, Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, Finance, Fixed Income, News, Syndicated Bonds, syndicated, research, market update


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