High yield is trading with a weaker tone this morning as equities resume their slide and oil heads lower again amid renewed fears surrounding global demand and inventory levels. The yield to worst and spread on the Bank of America High-Yield Index closed at 8.80% and +696bps last night, 66bps and 56bps wider MTD respectively. Market activity continues to slow as the week moves towards the New Year’s holiday with almost all market participants off the desk today.

The Bank of America Merrill Lynch High Yield Index monitors the performance of below investment grade U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market.  Index data sourced from Bloomberg. Yield referenced is the yield-to-worst and spread referenced is the spread-to-worst.