The high-yield market ground to a halt this week with anemic volume as investors take advantage of the calendar to get away from their desk. The yield to worst and spread on the Bank of America High-Yield Index (BAML) tightened 3bps/11bps for the week to close at 6.37%/+504bps, the low close for both in 2016 to date.

High-yield mutual and exchange traded funds reported an inflow totaling $161.8 million for the week ended August 24^th, this was the third consecutive weekly inflow to the asset class for a total of $2.7 billion over the three week span. The year to date total inflow now stands at $9.76 billion after the most recent positive reading. The primary market shut down this week ahead of the long Labor Day weekend with no new deals pricing since last Friday.

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. BAML HY represents the index yield for the designated date, while return/change represent the index return for the period ending date. Yield referenced is the yield-to-worst and spread referenced is the spread-to-worst.