High Yield was relatively unchanged to slightly improved yesterday as markets settled back in after the Thanksgiving holiday. The yield to worst on the Bank of America High-Yield Index tightened 3bps to 6.52%, while the spread held steady at +466bps.  Five deals were added to the forward calendar yesterday all expected to price later on this week. Retail mutual and exchange traded funds reported their first inflow in the past seven weeks last week, and have since seen daily inflows since, reversing the recent trend. Oil prices remain tentative awaiting the outcome of the OPEC meeting in Vienna, closing up 2.2% at $47.08. This morning high-yield is opening with a firm tone away from energy and commodity credits moving lower on the selloff in WTI.

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.