Oil names negative; Sinclair, L Brands mixed; $10.4 billion of inflows; indexes better

By Paul A. Harris and James McCandless

San Antonio, Aug. 23 – The high -yield market finished the Aug. 19 week with a modestly active secondary, a quiet primary, positive fund flows and higher indexes.

Oil futures fell amid trade tensions, followed by Whiting Petroleum Corp.’s, California Resources Corp.’s and Chesapeake Energy Corp.’s paper.

Sinclair Broadcast Group Inc.’s notes differed in direction as the company announced the completion of a purchase.

L Brands, Inc.’s issues traded mixed after an analyst downgrade in response to its second-quarter earnings report.

Pharma name Endo International plc’s notes declined after a week of heightened attention over an opioid lawsuit settlement.

Fund flows have experienced a year-over-year reversal of fortune. And, high-yield indexes ended the week better than they started.

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