| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenet Healthcare Corp. > News item |
Morning Commentary: Junk slides in thin pre-holiday liquidity; ETFs see $263 million Friday inflows
By Paul A. Harris
Portland, Ore., Dec. 20 – High-yield bonds slid 1/8 to ¼ point on Monday morning, according to a New York-based trader.
With the year-end holidays approaching trading volume was thin, the source said.
With the Dow Jones industrial average down 1.75% at midmorning the iShares iBoxx $ High Yield Corporate Bd (HYG) share price was down 0.24%, or 21 cents, at $86.16.
Crude oil prices were taking an outsize hit. The barrel price of West Texas Intermediate crude for January 2022 delivery was down a whopping 5.29%, or $3.75, at $67.31, at midmorning.
The Laredo Petroleum, Inc. 7¾% senior notes due July 2029 changed hands at 94 on Monday morning, down about two points, the trader said.
Among recent issues the Tenet Healthcare Corp. 4 3/8% senior secured first-lien notes due January 2030 were down ½ a point at 99¾ bid.
Those bonds were par bid, par ¾ offered on Friday.
The primary market remained sidelined on Monday as high-yield issuance for 2021 has likely concluded, sources say.
$263 million Friday inflows
The dedicated high-yield bond funds saw $249 million of net daily inflows on Friday, according to a market source.
High-yield ETFs saw $263 million of inflows on the day.
Actively managed high-yield funds were negative on the day, sustaining $14 million of outflows on Friday, the source said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.