Advantage Data High Yield Bond Market Summary

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% 

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 Trea sury note gained 4.7 basis points.   S&P  +0.2%,   DOW-0.03%,   NASDAQ  +0.56% 

UK HEADED FOR A DOWNTURN AS BREXIT WORRIES   NEGATIVELY   IMPACT SERVICES SECTOR. The PMI, a  barometer of the economy’s health   tumbled to 48.9 in March from 51.3 in February, inducing the sterling to dip to $1.3156.  “A stalling of the economy in the first quarter will create further   stress on the second quarter unless demand revives suddenly, which seems highly improbable with   Brexit looming,” mentioned IHS Markit. “In a no-deal scenario, both the EU and the UK would face a challenge of protecting their single markets,” mentioned   European Commissioner, Pierre Moscovici. The UK 10-year Gilt  increased   seven basis points.  FTSE 100, +0.23%,  STOXX Europe 600 +0. 91%,  CAC 40 +0.76%,  German DAX +1.68%.

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% 

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 Trea sury 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% 

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 Trea sury note advanced 1.7 basis points.   S&P  +0.67%,   DOW  +0.82%,   NASDAQ  +0.78%