Equities opened lower to start but are rallying on upbeat new home sales and consumer confidence numbers pushing the S&P 500 to a new intra-day record this morning, while the high-yield market continues to trade higher on strong demand. Flows for the high-yield asset class remained positive for the third straight day Monday, totaling $116 million after experiencing mild outflows last week on rate concern*. After pricing two deals yesterday, the high-yield primary market looks to pick up the pace today with five deals set to price for just over $3 billion in proceeds.

* Daily flow information sourced from J.P. Morgan.