Bear Stearns High Yield Index gives up 0.19% on week, year-to-date return eases to 9.33%

St. Louis, Dec. 3 - The Bear Stearns High Yield Index lost 0.19% during the week to Dec. 2, leaving the year-to-date return down at 9.33%.

The loss follows the previous week's 0.16% gain. The index has now reported gains in 20 of the past 25 weeks.

Nine of the 11 of the industry sectors that make up the index posted losses for the week.

The consumer cyclical sector gave up the most ground during the five-session period, posting a negative 0.35% return. The sector has returned 9.29% year to date. The sector's gaming component, which lost 0.64% on the week, created the most drag.

The only two sectors to post positive returns on the week were finance, up 0.04%, and transportation, up 2.42%. Leading the latter was the airlines sub-sector, which far outpaced all other sub-sectors in the index, returning 5.95% on the week and paring its losses to negative 10.95% year to date.

Basic materials remained the top sector for 2004 with a 12.36% total return. The sector was off 0.18% for the week.

Textile and apparel remained the number one sub-sector at 28.04% year to date after moving 0.63% higher for the week.

The index ended the week with a 7.11% yield to worst, up 12 basis points on the week.

The yield-to-worst spread ended the period two basis points tighter at 343.

The index ended the week to Dec. 2 with a market value of $547.57 billion, compared to the previous week's $539.15 billion. The number of issues increased by 34 to 1,729.

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