GHY
Prudential Global Short Duration High Yield Fund, Inc.NYSE
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  • Wed, Jul. 20, 1:18 PM
    • A credit correction is "unavoidable," says S&P, noting nearly half of corporate debt issuers are estimated to be highly leveraged. Some believe the correction is already underway, says the team, and could likely stretch for the next few years as defaults spike.
    • Total global corporate debt as of the end of last year was $51.4T and is estimated to hit $75T by 2020.
    • The team coined the term "Crexit" to denote what could be a rapid departure of both lenders and lower-quality borrowers from the debt markets.
    • Previously: Marty Fridson: High yield overvaluation is "staggering" (July 19)
    • ETFs: DHF, GHY, HIO, HYF, HYI, HYB, VTA, FSD, KHI, IHY, PICB, PGHY, IBND, HYXU, IJNK, HHYX, JHY
    | Wed, Jul. 20, 1:18 PM | 5 Comments
  • Tue, Jun. 7, 12:15 PM
    • The paper's Randall Forsyth over the weekend screened for nine high-yielding fixed-income CEFs trading at discounts to NAV, and where the fund managers eat their own cooking. Given the weak payroll numbers Friday, and the Fed's continued caution on rate hikes, they might be worth a look, he writes.
    • All are higher so far this week: Pimco Dynamic Credit Income (NYSE:PCI), Prudential Short Duration High Yield (NYSE:ISD), Prudential Global Short Duration High Yield (NYSE:GHY), Dreyfus High Yield Strategies (NYSE:DHF), Putnam Premier Income Trust (NYSE:PPT), BlackRock Corporate High Yield (NYSE:HYT), BlackRock Debt Strategies (NYSE:DSU), Neuberger Berman High Yield Strategies (NYSEMKT:NHS), AllianceBernstein Global High Income (NYSE:AWF).
    | Tue, Jun. 7, 12:15 PM | 7 Comments
  • Mon, Apr. 4, 12:09 PM
    • Corporate credit is now attractively valued relative to government paper, and has the added bonus of effectively hedging equity exposure, says Societe Generale.
    • "We see high-yield credit, including the riskier contingent convertible (CoCo) debt market, as presenting the best opportunities after being the hardest hit from weakness in oil, a stronger U.S. dollar and outsized outflows over the past 18 months," says the team, taking note of an even more dovish turn by global central banks, including the ECB's plan to make outright purchases of European investment-grade bonds.
    • ETFs: DHF, GHY, HIO, HYF, HYI, HYB, VTA, FSD, KHI, IHY, PICB, PGHY, IBND, HYXU, IJNK, HHYX, JHY
    • Now read: Is High Yield Signaling An All Clear? (April 4)
    | Mon, Apr. 4, 12:09 PM | 4 Comments
  • Jul. 30, 2015, 12:21 PM
    • BlackRock launches the iShares Currency Hedged Global ex-USD High Yield Bond ETF (NYSEARCA:HHYX), tracking an index of junk bonds issued in euros, pounds, and loonies, but hedging against currency risk.
    • The existing iShares Global ex-USD High Yield Corporate Bond ETF (BATS:HYXU) is lower by 7.7% YTD, in part thanks to a gain in the dollar of 6.5%.
    • The hedged version has expenses of 0.43% vs. $0.40 for the unhedged.
    • Global high-yield ETFs: DHF, HYF, HIO, GHY, HYB, HYI, VTA, FSD, KHI, IHY, PGHY, HYXU, IJNK
    | Jul. 30, 2015, 12:21 PM | 10 Comments
  • Jan. 11, 2015, 8:52 AM
    • The selloff in energy and resultant trouble for high-yield paper exposed to the sector has left a number of closed-end funds "on sale" - i.e., with sizable discounts to net asset value. Mark Grant, director of taxable fixed income for Southwest Securities, tells Barron's his favorites.
    • Babson Capital Global Short Duration (NYSE:BGH), Prudential Global Short Duration High Yield (NYSE:GHY), Pimco Income Strategy II (NYSE:PFN).
    • Diversifying away from high-yield exposure, his other "on sale" picks: NexPoint Credit Strategies (NYSE:NHF), Brookfield Global Listed Infrastructure Income (NYSE:INF), BlackRock Municipal Target Term Trust (NYSE:BTT).
    | Jan. 11, 2015, 8:52 AM | 19 Comments