Advantage Data High Yield Bond Market Summary

TREASURY YIELDS ROSE ON THURSDAY  upon the release of positive economic data on the labor market calming fears of a slowing economy,   10-year Treasury note increased 3.4 basis points.  Equities settled lower as   investors anticipate a lackluster quarterly earnings  season set to kick off this Friday.  Chief equity strategist Terry Sandven at U.S. Bank Wealth Management sees opportunity,   “Expectations for first-quarter results have been ratcheted down on the heels of sluggish global growth, so the bar is low and it could set the stage for upside surprises”.  S&P  -0.11%,   DOW  -0.19%,   NASDAQ  -0.31% 

EU GRANTS BRITAIN  SIX MORE MONTHS TO LEAVE THE BLOC  EXTENDING THE DEADLINE INTO OCTOBER, ALTHOUGH, IT COULD HAPPEN QUICKER ACCORDING TO THERESA MAY.  “There is huge frustration from many people that I had to request this extension, but it was the logical thing to do,” stated Theresa May. German Chancellor, Merkel mentioned, “An orderly exit by Britain can be best ensured if we  prolong the duration of a deal.” The ECB will keep its monetary policy as accommodative as possible to ensure positive growth across the economy. The  ECB hinted they will leave interest rates unchanged amid trade tensions and uncertainty around  Brexit. The  UK 10-year Gilt  increased five-basis points.   FTSE 100  -0.09%,  STOXX Europe 600  +0.13%,  CAC 40 +0.83%,  German DAX +0.34%.

U.S. THREATENED TO SLAP TARIFFS ON HUNDREDS OF EUROPEAN GOODS dragging stocks lower on Tuesday.  Job openings fell sharply in February by more than a half million slipping to levels not seen in over a year, “Like the rest of the economy, the labor market is not perfectly steady on its feet”.  Gold rose to nearly two-week highs settling above $1307.8 per ounce. 10-year Treasury note dipped 2.5 basis points.  S&P -0.58%, DOW -0.68%, NASDAQ -0.46% 

U.S. THREATENED TO SLAP TARIFFS ON HUNDREDS OF EUROPEAN GOODS  dragging stocks lower on Tuesday.    Job openings fell sharply  in February by more than a half million   slipping to levels  not seen in over a year,   “Like the rest of the economy, the labor market is not perfectly steady on its feet”.    Gold rose to nearly two-week highs settling above $1307.8 per ounce.   10-year Treasury note dipped 2.5 basis points.    S&P  -0.58%,   DOW  -0.68%,   NASDAQ  -0.46% 

“ UK ECONOMY TO LOSE 3.5 PERCENT OF GDP IN NO-DEAL BREXIT,” STATED THE IMF. The increase in trade barriers has a   detrimental  impact on UK foreign domestic demand. The   IMF downgraded  its   forecast for economic growth in Britain this year to 1.2 percent from a forecast of 1.5 percent, the weakest since 2009.   Britain could suffer a  loss of 2-3 years of positive GDP if it departs the EU without a deal. The downward revisions reflect the negative effect of   prolonged uncertainty about the Brexit outcome. BoE stated, “We are ready to take   a cautious, data-dependent approach  to monetary policy.” The  UK 10-year Gilt  declined one basis point.   FTSE 100  -0.35%,  STOXX Europe 600  -0.47%,  CAC 40 -0.65%,  German DAX -0.94%.

JUNK BONDS SLIGHTLY REGAINED FAVOR AGAINST INVESTMENT-GRADE DEBT in net prices linked to actual trades.  Treasury yields for U.S. Government bonds ticked higher as investors await the release of critical inflation data, 10-year Treasury note gained 2.7 basis points and the 30-year note rose 0.7 basis points.  Equities settled predominantly higher despite the DOW shedding nearly 100 points following Boeing receiving a downgrade from Bank of America Merrill Lynch and JPMorgan downgrading GE.  S&P +0.04%, DOW -0.48%, NASDAQ +0.15%  

JUNK BONDS SLIGHTLY REGAINED FAVOR AGAINST INVESTMENT-GRADE DEBT  in net prices linked to actual trades.  Treasury yields for U.S.   Government bonds ticked higher  as investors await the release of   critical inflation data,   10-year Trea sury note gained 2.7 basis points and the   30-year note  rose 0.7 basis points.  Equities settled   predominantly higher despite  the   DOW shedding nearly 100  points following   Boeing receiving a downgrade  from Bank of America Merrill Lynch and JPMorgan   downgrading GE.   S&P  +0.04%,   DOW  -0.48%,   NASDAQ  +0.15%