|Key Gainers and Losers||Volume Leaders|
|HCA Inc. 5% 3/15/2024
US Steel Corp. 6.875% 8/15/2025
|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)
|SuperValu Inc. (5Y Sen USD XR14)
San Miguel Corp. (5Y Sen USD CR14)
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 30 bp (basis points), as of 10/02/19
- Net positive capital flows into high-yield ETFs & mutual funds
Copyright 2019 Advantage Data Inc. All Rights Reserved. http://www.advantagedata.com
Information in this document should not be regarded as an offer to sell or solicitation of an offer to buy bonds or any financial instruments referred to herein. All information provided in this document is believed to be accurate. However, Advantage Data and its sources make no warranties, either express or implied, as to any matter whatsoever, including but not limited to warranties of merchantability or fitness for a particular purpose. Opinions in this document are subject to change without notice. Electronic redistribution, photocopying and any other electronic or mechanical reproduction is strictly prohibited without prior written permission from Advantage Data Inc.