U.S. TREASURY YIELDS SLID ON MONDAY APPROACHING three-month lows as investors fled to safe-haven assets. The 10-year benchmark settled near 2.857% losing 3.6 basis points while the inverted 2-year and 5-year Treasury yield gap narrowed to .3 basis points.
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MARKET TURMOIL PROGRESSED FORWARD with the Dow Jones Industrial Average shedding 500 points as investors scale back risk. Fixed income investors alike equity investors are in the red for 2018 potentially marking the first year since 2008 both buyers finish the year with negative returns. January WTI Crude declined 3.69% settling below the $50 a barrel for the first time since October 2017. Reports of an inventory spike totaling more than 1 million barrels at the nation’s largest storage facility located in Oklahoma sparked fears. S&P -2.08%, DOW -2.11%, NASDAQ -2.27% ADI proprietary index data showed a net yield increment for high-yield versus high-grade bonds. High-yield edged out high-grade. Among high-yield bonds showing topmost price gains at appreciable volumes traded, AV Homes Inc. (USD) 6.625% 5/15/2022 made analysts' 'Conviction Buy' lists. (See the chart for ADI US indicies, above.) Corey Mahoney cmahoney@advantagedata.com
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Halfmoon Parent Inc. 4.8% 8/15/2038 144A Siemens Financieringsmaatschappij NV 2.675% 3/16/2020 144A National Australia Bank 1.682% 5/22/2020 144A |
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