Advantage Data High Yield Bond Market Summary

U.S. EMPLOYMENT ACCELERATED IN MARCH growing by 196,000 jobs rebounding from a 17-month low in February. “This was a Goldilocks report, with a rebound in job growth to calm fears of an imminent recession, and wage growth that was solid enough without triggering inflationary concerns,”said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.  10-year Treasury note shed 2.2 basis points. Equities rise to six month highs amid strong economic data, S&P+0.44%, DOW +0.18%, NASDAQ +0.58% 

U. S.   EMPLOYMENT ACCELERATED IN MARCH  growing by 196,000 jobs rebounding   from a 17-month low  in February.   “This was a Goldilocks report, with a rebound in job growth to   calm fears of an imminent recession, and wage growth that was solid enough without   triggering inflationary concerns,”said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.    10-year Trea sury note shed 2.2 basis points. Equities rise to   six month highs  amid strong economic data,   S&P+0.44%,   DOW  +0.18%,   NASDAQ  +0.58% 

JUNK BONDS REGAINED FAVOR as a risk-on sentiment prevailed against investment grade debt.  U.S. mortgage applications surge to levels not seen since October 2016 aided by a wave of homeowners refinancing.  Plummeting interest rates also led to the uptick in refinancing activity which increased 47.4 percent from the previous week. The 10-year Treasury note gained 4.7 basis points. S&P +0.2%, DOW-0.03%, NASDAQ +0.56% 

INVESTMENT-GRADE DEBT EDGED OUT JUNK BONDS in net prices linked to actual trades.  U.S. Treasury yields slipped as investors turned bearish following Brexit reigniting fears of uncertainty.  The U.K. Prime Minister Theresa May will “request a further postponement of Brexit” seeking to break the standoff in Parliament.  Equities on Tuesday wavered upon investors fleeing to safe-haven assets. The 10-year Treasury note declined 3.6 basis points. S&P +0.06%, DOW -0.27%, NASDAQ +0.31% 

JUNK BONDS REGAINED FAVOR AGAINST HIGH-GRADE debt in net prices linked to actual trades. Treasury yields rose on Friday and finished the month down as investors digested the Feds dovish tone. “The market is still trying to process the change of hearts by the Federal Reserve”, Thanos Bardas. The 10-year Treasury note advanced 1.7 basis points. S&P +0.67%, DOW +0.82%, NASDAQ +0.78% 

INVESTMENT GRADE-DEBT EDGED OUT JUNK BONDS in net prices linked to actual trades. Housing starts plunged nearly 9 percent in February; the northeast took the most significant hit as permits sank 30 percent. The hottest housing markets, Seattle and San Francisco continue to show signs of cooling off even as interest rates decline. The 10-year U.S. Treasury note rose 1.5 basis point.  S&P +0.37%, Dow +0.27%, NASDAQ +0.32%