We’re back after the long weekend and high yield feels much better to open the new week than where we were going out Friday, coming off a selloff that saw the yield and spread on the Bank of America High-Yield Index gap out 52bps and 66bps, respectively, while the DJIA and S&P 500 finished 2.19% and 2.17% lower, amid continued commodity weakness and a stagnant global growth backdrop. We’ve seen periods of strength from the market already this year, but so far have been unable to sustain the upswing, so we’ll see if this time is different. Just two deals have priced so far this year given the choppy market environment, but the third is in the market this morning with a new deal announced for Transcontinental Gas Pipe Line Company brining a new benchmark ten year note this afternoon.