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North American Market Summary: High Yield Bond Research, December 17, 2018

Posted by Corey Mahoney on Dec 18, 2018 3:04:38 PM

U.S. TREASURY YIELDS SLID ON MONDAY APPROACHING three-month lows as investors fled to safe-haven assets. The 10-year benchmark settled near 2.857% losing 3.6 basis points while the inverted 2-year and 5-year Treasury yield gap narrowed to .3 basis points.



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MARKET TURMOIL PROGRESSED FORWARD
with the Dow Jones Industrial Average shedding 500 points as investors scale back risk. Fixed income investors alike equity investors are in the red for 2018 potentially marking the first year since 2008 both buyers finish the year with negative returns.  January WTI Crude declined 3.69% settling below the $50 a barrel for the first time since October 2017.  Reports of an inventory spike totaling more than 1 million barrels at the nation’s largest storage facility located in Oklahoma sparked fears. S&P -2.08%, DOW -2.11%, NASDAQ -2.27% ADI proprietary index data showed a net yield increment for high-yield versus high-grade bonds. High-yield edged out high-grade. Among high-yield bonds showing topmost price gains at appreciable volumes traded,    AV Homes Inc. (USD) 6.625% 5/15/2022 made analysts' 'Conviction Buy' lists. (See the chart for ADI US indicies, above.) Corey Mahoney cmahoney@advantagedata.com
 
Key Gainers and Losers Volume Leaders
+   Deutsche Telekom Intl Finance BV 1.95% 9/19/2021 144A + 0.2%
  Siemens Financieringsmaatschappij NV 2.675% 3/16/2020 144A + 0.1%
-   BNP Paribas 4.4% 8/14/2028 144A -0.1%
Halfmoon Parent Inc.   4.8% 8/15/2038 144A
Siemens Financieringsmaatschappij NV   2.675% 3/16/2020 144A
National Australia Bank   1.682% 5/22/2020 144A
Industry Returns Tracker
Industry Past Day Past Week Past Month Past Quarter YTD Past Year
Agriculture, Forestry, Fishing -0.17% -0.08% -0.54% 0.98% -3.42% -3.26%
Mining -0.06% -0.36% -2.29% -4.62% -1.60% -1.22%
Construction -0.12% 0.36% -0.39% -2.25% -1.73% -1.48%
Manufacturing 0.03% 0.13% -0.21% -2.11% 0.70% 1.10%
Transportation, Communication, Electric/Gas -0.07% 0.14% -0.11% -1.39% 2.89% 2.84%
Wholesale 0.01% 0.26% -0.78% -1.77% -0.23% -0.06%
Retail -0.06% 0.05% -0.59% -2.51% -0.80% -0.49%
Finance, Insurance, Real-Estate 0.01% 0.18% -0.43% -0.70% 0.25% 0.43%
Services -0.05% 0.16% -0.18% -1.55% 0.89% 1.07%
Public Administration 0.03% 0.22% 2.95% 4.78% 26.48% 27.10%
Energy -0.03% -0.16% -1.97% -4.94% -1.45% -1.11%
 
Total returns (non-annualized) by rating, market weighted.

 

 

Topics: High Yield, bond market, market analytics, Finance, News, research


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