iShares iBoxx $ High Yield Corporate Bond ETF (HYG) - NYSEARCA
  • Wed, Mar. 2, 10:54 AM
    | Wed, Mar. 2, 10:54 AM | 7 Comments
  • Tue, Mar. 1, 2:05 PM
    • iShares iBoxx $ High Yield Corporate Bond Fund ETF (NYSEARCA:HYG) announces monthly distribution of $0.419.
    • 30-Day Sec yield of 8.85% (as of 2/26/2016).
    • Payable Mar. 7; for shareholders of record Mar. 3; ex-div Mar. 1.
    | Tue, Mar. 1, 2:05 PM
  • Mon, Feb. 29, 11:37 AM
    • A late-morning rally in oil looks to have dragged the major averages into the green (or is it vice-versa?).
    • Hanging around in negative territory not long ago, WTI crude oil is now higher by 2.75% to $33.68 per barrel. The XLE has moved higher by 0.5% alongside, with the S&P 500 now up 0.45% and the Nasdaq 0.55%.
    • High-yield's having a big day now as well, with HYG up 0.65% and JNK 0.6%.
    | Mon, Feb. 29, 11:37 AM | 9 Comments
  • Fri, Feb. 26, 11:13 AM
    • In another sign of the difficulties lower-rated credits are having with borrowing, Goldman Sachs (GS +2.1%) is having a hard time moving $2B in paper backing the buyout of Solera Holdings, reports the WSJ.
    • Solera late last year agreed to an LBO to Vista Equity Partners for $6.5B, including debt.
    • The bonds backing the sale carry an especially weak Caa1 rating from Moody's, and it's in these lower-rated tranches where the worst of the high-yield carnage has taken place. Demand "is really nonexistent now," says one portfolio manager.
    • Goldman had hoped to unload the Solera bonds at a price to yield about 10%, but by midday yesterday had only found buyers for about half of the paper, and pricing had moved above 11%.
    • As painful as it is for borrowers, it's also so for the banks which earn big fees from lending commitments - great when the bonds are easy to move, but a profit eater when the stuff has so sit on the books for very long. Goldman, in particular, has sought to boost market share in this part of the business against traditional powerhouses like Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM).
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, PHF, NHS, FHY, ACP, MCI, KIO, VLT, ARDC, ANGL, CIF, AIF, MHY, PCF, MPV, DHG, HYLS, IVH, JSD, UJB, GGM, CJNK, QLTC
    | Fri, Feb. 26, 11:13 AM | 3 Comments
  • Fri, Feb. 19, 3:46 PM
    • Eleven U.S. high-yield bond defaults have occurred this month, according to Fitch - the highest one-month count since September 2009.
    • The energy default rate is expected to finish above 9% in February (from 7.2% last month), and the exploration and production rate above 14% (from 11.3%).
    • Currently 41% of outstanding high-yield energy bonds are bid below 50 cents.
    • The mining sector doesn't look any better, with Arch Coal's January bankruptcy filing pushing the default rate to nearly 14% - the highest since 2002.
    • While energy and metals/mining have just $5.1B in debt maturing this year, then number soars to nearly $20B in 2017.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, PHF, NHS, FHY, ACP, MCI, KIO, VLT, ARDC, ANGL, CIF, AIF, MHY, PCF, MPV, DHG, HYLS, IVH, JSD, UJB, GGM, CJNK, QLTC
    | Fri, Feb. 19, 3:46 PM | 6 Comments
  • Thu, Feb. 18, 12:30 PM
    • Moody's Liquidity Stress Index rises to 8.1% as of mid-February from 7.9% a month earlier. Energy, of course, is behind the move, with the oil & gas LSI rising to 24.4% - just under the record 24.5% hit in March 2009.
    • The LSI measures the number of companies carrying the agency's lowest liquidity rating, SGL-4.
    • "While contagion from the commodity rout is not widespread at this point, with most sector LSIs not pointing to dangerous conditions in 2016, 16 of the 21 sector LSIs we track increased over the last year,” says the report.
    • Moody's expects junk defaults to rise to a six-year high of 4.7% by next January from the current 3.1%. The average since 1990 is 4.7%.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, PHF, NHS, FHY, ACP, MCI, KIO, VLT, ARDC, ANGL, CIF, AIF, MHY, PCF, MPV, DHG, HYLS, IVH, JSD, UJB, GGM, CJNK, QLTC
    | Thu, Feb. 18, 12:30 PM | 3 Comments
  • Tue, Feb. 2, 2:28 PM
    | Tue, Feb. 2, 2:28 PM | 12 Comments
  • Mon, Feb. 1, 2:26 PM
    • U.S. junk bond defaults should hit 4.4% this year, says Moody's - up from 3.2% in Q4 and the highest level since 2010.
    • It's all about commodities/energy, with 9 of 15 non-financial defaults in Q4 from oil and gas companies.
    • Non-commodity defaults in 2015 were 24, up just three from 2014's level. While just edging higher, liquidity pressures in these sectors are on the rise, says Moody's, suggesting the possibility of an even sharper rise in broader defaults should economic growth slow, or credit pressures stemming from energy rise.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, ARDC, MCI, VLT, KIO, CIF, AIF, MHY, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC
    | Mon, Feb. 1, 2:26 PM | 7 Comments
  • Mon, Feb. 1, 2:08 PM
    • iShares iBoxx $ High Yield Corporate Bond Fund ETF (NYSEARCA:HYG) announces monthly distribution of $0.391.
    • 30-Day Sec yield of 8.12% (as of 1/28/2016).
    • Payable Feb. 5; for shareholders of record Feb. 3; ex-div Feb. 1.
    | Mon, Feb. 1, 2:08 PM | 2 Comments
  • Mon, Jan. 25, 3:44 PM
    • Higher yields and a slowing economy are likely to lead to a collapse in the issuance of high-yield paper, says Jeff Gundlach, speaking at the Inside ETFs conference. Collapse more than this? According to Bloomberg, there have been just nine junk deals for $4.8B this year vs. 32 deals totaling $22B in January a year ago.
    • In other witticisms from today's speech: "The Fed's economic forecast represents the triumph of hope over experience. Kind of like a second marriage."
    • "Believing the dollar rallies when the Fed is tightening rates is not true. When you hear that on CNBC, put it on mute."
    • Stocks cannot rise until junk bonds rally. And junk bonds won't rally until oil does.
    • HYG -0.75%, JNK -0.7%
    | Mon, Jan. 25, 3:44 PM | 4 Comments
  • Wed, Jan. 20, 11:05 AM
    • The S&P 500 is lower by 3%, oil is nearing a $26 handle, and high-yield is selling off, with HYG -1.4% and JNK -1.3%. Those two ETFs are lower by about 5% YTD and in the area of 15% Y/Y.
    • Leveraged to all the above data, BDC sector losses are eve worse. Prospect Capital (PSEC -3.6%), Fifth Street (FSC -7.4%), Ares Capital (ARCC -5.3%), FS Investment (FSIC -10.8%), Main Street (MAIN -6.4%), Blackrock Capital (BKCC -5.3%), Apollo Investment (AINV -7%), Triangle Capital (TCAP -7.9%), TICC Capital (TICC -3.1%), Pennant Park Investment (PNNT -6.5%), KCAP Financial (KCAP -7.7%), THL Credit (TCRD -8%), TCP Capital (TCPC -7.4%), Gladstone Capital (GLAD -5.6%), WhiteHorse Finance (WHF -9.3%), Garrison Capital (GARS -6.8%)
    • ETFs: BDCL, BDCS, BIZD, FGB
    | Wed, Jan. 20, 11:05 AM | 51 Comments
  • Fri, Jan. 15, 3:18 PM
    • The BAML High Yield Energy Bond Index yesterday closed at a yield to worst of 17.43% (and it's surely headed higher today). That level is the worst since the bank began putting the index together 20 years ago, according to Marty Fridson.
    • The prior record was 17.05% posted during the gloomiest times of the financial crisis, but as Fridson points out, energy high yield then was trading in line with everything else. Today, energy is an outlier.
    • On a day when the 10-year yield is lower by six basis points to 2.03%, HYG and JNK are down 1.5%.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, ARDC, MCI, VLT, KIO, CIF, AIF, MHY, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC
    | Fri, Jan. 15, 3:18 PM | 8 Comments
  • Fri, Jan. 15, 8:50 AM
    • Losses are deepening in the market for low-rated energy debt, as investors worry that the prolonged slump in commodity prices and slowing economic growth will push many companies into default, WSJ reports.
    • Bonds among the biggest losers yesterday were from WPX Energy (NYSE:WPX) and Oasis Petroleum (NYSE:OAS), each down ~12% from the previous day, according to the report; a 2019 bond from OAS traded at $0.53 cents on the dollar, and a WPX bond maturing in 2023 traded at $0.655.
    • The losses come after many investors already have exited some larger oil and gas producers in the junk market; for example, a 2023 bond from Chesapeake Energy (NYSE:CHK) is trading at $0.285, roughly the same as in mid-December.
    • Energy sector junk bond losses already are near 4% YTD, and the spread vs. U.S. Treasurys hit 14 percentage points on Wednesday, the highest since December 2008, according to Barclays.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, ARDC, MCI, VLT, KIO, CIF, AIF, MHY, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC
    | Fri, Jan. 15, 8:50 AM | 17 Comments
  • Wed, Jan. 13, 3:57 PM
    • Following the collapse of the Third Avenue Focused Credit Fund (MUTF:TFCVX) last month, the SEC has launched a review of the entire junk-bond fund complex, reports Reuters.
    • The agency "sent detailed requests" to mutual fund and ETF managers following the Third Avenue liquidation plan in which investors could wait a year or more to get their money.
    • High yield's having a particularly ugly day today as equity markets wash out. HYG -1.2% and JNK -1.4% on a day when the 10-year Treasury yield is lower by four basis points to 2.06%.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, ARDC, MCI, VLT, KIO, CIF, AIF, MHY, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC
    | Wed, Jan. 13, 3:57 PM | 15 Comments
  • Wed, Jan. 6, 2:19 PM
    • WTI crude oil is trading with a $33 handle after today's 6% decline - this despite somewhat bullish oil inventory data (though product inventories declined).
    • Unsurprisingly, the energy sector (XLE -3.6%) has more than tripled the S&P 500's 1.1% slide.
    • Past declines in energy have hit the high yield sector, but HYG and JNK are about flat for the session. Still, spreads are widening as the 10-year Treasury yield falls six basis points to 2.18%.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Jan. 6, 2:19 PM | 79 Comments
  • Dec. 23, 2015, 3:56 AM
    | Dec. 23, 2015, 3:56 AM | 13 Comments
HYG Description
The iShares iBoxx $ High Yield Corporate Bond Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the iBoxx $ Liquid High Yield Index, a corporate bond market index compiled by the International Index Company Limited.
See more details on sponsor's website
Country: United States
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