The high-yield market rallied Friday to cap off another strong week pushing the yield and spread on the Bank of America High-Yield Index to fresh year to date lows as stocks finished higher for the fourth straight week and oil prices continued to improve. This morning we’re opening unchanged to start the new week amid declining equity and oil markets as investors await signs of more support for the economy from central bankers and news Iran will boost oil production to pre-sanction levels. After the busiest week of the year for new issuance, we’re opening the new week with more of the same as three deals are set to price this afternoon.

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.