Frothy US high yield knocked but still standing after volatile week

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By David Bell
16 Nov 2017

The US high yield market suffered a volatile week, with pulled deals, wider spreads and billions of dollars of retail investor outflows, but a string of determined issuers and hardy investors keen to pick up bargains meant the sell-off did not result in a full blown market rout, as many had earlier feared.

A string of “meaningful and yet only loosely related events” knocked some of the wind out of the US high yield market last week, according to Bank of America Merrill Lynch analysts. Just three weeks ago, the Bank of America Merrill Lynch US High Yield option adjusted spread ...

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