|Key Gainers and Losers||Volume Leaders|
|Teva Pharmaceutical Industries LTD 2.2% 7/21/2021
Goldman Sachs Group Inc. 5% PERP
|Industry Returns Tracker|
|New Issues||Forward Calendar|
1. Photo Hldg Merger Sub, Inc. (USD) 8.5% 10/1/2026 144A (10/01/2019): 785MM First Lien Notes, Price at Issuance 94.371, Yielding 9.62%.
2. Metinvest BV (USD) 7.75% 10/17/2029 144A (10/01/2019): 500MM Senior Unsecured Notes, Price at Issuance 98.629, Yielding 7.95%.
1. Presidio Inc.: $1.775B high yield bonds, Expected 4th Quarter 2019
Metinvest BV. The most recent data showed a money flowed out of highyoutflow ETF/mutual funds for the week ended 9/27/2019, with a net outflow of $258 million.
|Top Widening Credit Default Swaps (CDS)||Top Narrowing Credit Default Swaps (CDS)|
|Weatherford International LTD (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 Overview
Deals recently freed for secondary trading, notable secondary activity:
- Raytheon Co., Shearer's Foods Inc., Triumph Group Inc., Seagate Technology, B&G Foods Inc.
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 27 bp (basis points), as of 10/01/19
- Net positive capital flows into high-yield ETFs & mutual funds
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