‘Animal spirits’ back in US high yield as cash floods back in

By David Bell
17 Apr 2018

The US high yield market has snapped back after softening in February and March, with recent deals issued at steep discounts bouncing back in the secondary market as retail funds flocking back to the sector chase scarce paper.

Light deal volumes and a bounce in stock markets have helped US high yield bonds recover some of the losses they suffered in February and March.

The market is averaging just $6.4bn of net new issuance a month this year, which is just 50% of the average monthly ...

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