US high yield at 10 year tights as retail cash returns
US high yield spreads touched the tightest levels seen in over a decade this week, with the return of mutual and retail fund flows and sluggish supply creating attractive financing conditions for the few borrowers that emerged.
After weeks of fund outflows from the US high yield sector, retail funds are rushing back to the high yield market, helping to drive spreads to their tightest level in a decade.According to a JP Morgan note, high yield retail funds reported $2.4bn of inflows to the ...
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