|Key Gainers and Losers||Volume Leaders|
|Endo Finance LLC 6% 7/15/2023 144A
VRX Escrow Corp. 6.125% 4/15/2025 144A
|Industry Returns Tracker|
|New Issues||Forward Calendar|
1. Arrow Bidco, LLC (USD) 9.5% 3/15/2024 144A (03/13/2019):340MM Secured Notes, Price at Issuance 99.029, Yielding 9.75%.
2. Frontier Communications Corp. (USD) 8% 4/1/2027 Reg S (03/13/2019): 1650MM First Lien Notes, Price at Issuance 100, Yielding 8%.
1. Starwood Property Trust Inc: $300M senior notes, Expected Q1 2019
Amkor Technology Inc. The most recent data showed money flowed out of high-yield ETFs/mutual funds for the week ended 3/8/19, with a net outflow of $1.69B, year-to-date $7.8B flowed into high-yield.
|Top Widening Credit Default Swaps (CDS)||Top Narrowing Credit Default Swaps (CDS)|
|Rite Aid Corp. (5Y Sen USD XR14)
Hertz Corp. (5Y Sen USD CR14)
|Cable & Wireless Communication (5Y Sen USD CR14)
SuperValu Inc. (5Y Sen USD MR14)
Loans and Credit Market OverviewSYNDICATED LOANS HIGHLIGHTS:
Deals recently freed for secondary trading, notable secondary activity:
- XPO Logistics Inc., MYOB LTD, Dell International, Amer Sports Corp.
Long-term bond yields are expected to hit a cyclical peak in 2019 given tight fiscal policy and lagging global economies. Europe remains checked by stubbornly low inflationary forces. Positive effects remained in force:
- TED spread held below 18 bp (basis points), as of 03/14/19
- Net positive capital flows into high-yield ETFs & mutual funds
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