The high yield market is opening flat this morning, after trading slightly weaker yesterday along with equities. It is a somewhat directionless market at the moment, but still a slightly better tilt towards buyers than sellers with money continuing to flow in to high yield ETF’s and mutual funds, albeit at a slower pace. Yesterday the yield on the Bank of America High Yield Index (BAML) was 2bps wider to 7.21% and the spread was wider by 1bp to 580bps as Treasuries stopped their multi-day sell off. For performance, the BAML HY Index returned -0.09% for the day bringing the MTD total to -0.17% and the YTD total to 5.07%.

The high yield market is opening flat this morning, after trading slightly weaker yesterday along with equities. It is a somewhat directionless market at the moment, but still a slightly better tilt towards buyers than sellers with money continuing to flow in to high yield ETF’s and mutual funds, albeit at a slower pace. Yesterday the yield on the Bank of America High Yield Index (BAML) was 2bps wider to 7.21% and the spread was wider by 1bp to 580bps as Treasuries stopped their multi-day sell off. For performance, the BAML HY Index returned -0.09% for the day bringing the MTD total to -0.17% and the YTD total to 5.07%.