HCA joins flow of issuers to cash-rich US HY funds
The US high yield market is flourishing, as money pours into the asset class. This is the 10th week in a row that US high yield funds have enjoyed inflows, according to an investor citing Lipper fund flow data.
Pricing on new issues has tightened this year as the buyside has so much cash to deploy. With cumulative inflows reaching $11bn so far this year, according to EPFR Global, the sell side can squeeze coupons even more.
Still, this trend will have to reverse at some point,
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