SPDR Barclays Capital High Yield Bond ETF (JNK) - NYSEARCA
  • 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
  • Tue, Feb. 2, 2:28 PM
    | Tue, Feb. 2, 2:28 PM | 12 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
  • 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. 17, 2015, 11:59 AM
    • The S&P 500 (SPY -0.9%) has given up early gains alongside oil's (USO -2.1%) decline back under $35 per barrel. For now, junk bonds are going to be tied to the oil chart and HYG and JNK are each down 0.6% after opening higher.
    • Naturally leading the S&P 500 lower are the energy names (XLE -1.8%).
    | Dec. 17, 2015, 11:59 AM | 20 Comments
  • Dec. 15, 2015, 11:17 AM
    • The iShares High Yield Bond ETF (HYG +1.5%) and the SPDR High Yield Bond ETF (JNK +1.1%) both continue to gain from lows hit at about midday yesterday.
    • The move has roughly matched that of crude oil, which is ahead 1.3% on the session to $36.78 after threatening a $33 handle at its worst levels on Monday.
    • Bouncing alongside are those thoroughly roughed-up income vehicles, the BDCs. Among the movers: Triangle Capital (TCAP +5.5%), Apollo Investment (AINV +5.6%) - which added to its buyback last night - Medley Capital (MCC +3.3%), FS Investment (FSIC +3.4%), Fifth Street Finance (FSC +2%), and Prospect Capital (PSEC +3.5%).
    | Dec. 15, 2015, 11:17 AM | 20 Comments
  • Dec. 14, 2015, 8:54 AM
    • There's no early bounce from last week's high-yield carnage, with the iShares High Yield Corporate Bond ETF (NYSEARCA:HYGlower by 0.6% premarket, and the SPDR Barclays High Yield Bond ETF (NYSEARCA:JNKdown a full 1.1%.
    • Not helping is energy, with both oil and natural gas taking out new multi-year lows.
    • In mutual funds, Third Avenue Management fired its CEO after the collapse last week of its junk bond fund.
    • Looking for other signs of capitulation, HYG posted trading volume of $4.3B on Friday - not only its most ever by a mile, but more than three times the amount any corporate bond ETF has ever traded in a single day. For perspective, Apple's volume on Friday was $5.3B. This wasn't some big player exiting, but instead thousands of smaller orders - Bloomberg notes only a handful of trades for over $10M.
    • 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
    | Dec. 14, 2015, 8:54 AM | 9 Comments
  • Dec. 11, 2015, 10:42 AM
    • The 10-year Treasury yield is lower by six basis points to 2.17%, but high-yield paper is once again headed the opposite direction, with HYG down 1.2% and JNK down 1.1%.
    • The panicky action in junk bonds comes as oil sinks to new bear market lows, now off 2% to $36.06 after falling as low as $35.70 earlier. The major averages are all down more than 1%, led by energy's 2.4% decline.
    • Long-dated Treasury ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Dec. 11, 2015, 10:42 AM | 17 Comments
  • Dec. 7, 2015, 10:35 AM
    • Treasury prices are higher today, with the 10-year yield down two basis points to 2.25%, but junk bonds are selling off again. At issue are crude oil prices down another 4.1% to new bear market lows, and the resultant selloff in the energy sector (XLE -4.6%) which makes up a sizable chunk of high-yield.
    • JNK -0.55%, HYG -0.5%
    • Previously: Pimco's Kiesel smells opportunity in high-yield (Dec. 4)
    | Dec. 7, 2015, 10:35 AM | 1 Comment
  • Oct. 2, 2015, 4:07 PM
    | Oct. 2, 2015, 4:07 PM | 5 Comments
  • Aug. 20, 2015, 4:18 PM
    • High-yield spreads widened again this session, with the 10-year yield falling six basis points to 2.07% and TLT gaining 1%. The BAML High-Yield Index yield isn't available, but 0.5% declines for both HYG and JNK suggest it rose.
    • As for further troubles in the energy patch, the declines in oil and natural gas took a breather today, with both commodities putting in modest bounces.
    | Aug. 20, 2015, 4:18 PM | 3 Comments
  • Aug. 17, 2015, 2:59 PM
    | Aug. 17, 2015, 2:59 PM | 66 Comments
  • Feb. 3, 2015, 3:44 PM
    • Lower interest rates hadn't really helped one of income players' favorite sectors as they were accompanied by the plunge in oil prices, and worry about what blowups were lurking in BDC portfolios.
    • So even with the 10-year Treasury yield higher by 11 basis points to 1.78% today, oil's now more than 20% run higher in the past few sessions looks to be easing some of those credit concerns, and alongside the rally in BDCs is a nice move higher in junk bonds (HYG +0.6%), (JNK +0.6%).
    • BDC ETFs: BDCL, BDCS, BIZD
    • Individual names: Prospect Capital (PSEC +2.3%), Fifth Street Finance (FSC +3%), FS Investment (FSIC +1.6%), Main Street Capital (MAIN +2.4%), Apollo Investment (AINV +3%), Triangle Capital (TCAP +2.7%), TICC Capital (TICC +3%), PennantPark Investment (PNNT +3.8%), THL Credit (TCRD +3.5%), Golub Capital (GBDC +1.9%).
    | Feb. 3, 2015, 3:44 PM | 19 Comments
  • Dec. 17, 2014, 3:41 PM
    • Popular high-yield ETFs HYG and JNK are each ahead by 2% in today's session as the energy sector - which makes up a sizable portion of the high-yield universe posts a strong rally, with the XLE higher by 4.1%.
    • BDCs can sort of be considered the equity equivalents of junk bonds, and they're putting in a big rally today as well.
    • Prospect Capital (PSEC +1.5%), Main Street (MAIN +4.1%), Blackrock Kelso (BKCC +2.4%), Triangle Capital (TCAP +6.4%), KCAP Financial (KCAP +2.6%), THL Credit (TCRD +3.5%), Medley Capital (MCC +2.2%), Fifth Street Finance (FSC +1.5%)
    • ETFs: BDCL, BDCS, BIZD
    | Dec. 17, 2014, 3:41 PM | 20 Comments
  • Dec. 3, 2014, 2:01 PM
    • The energy sector of the high-yield bond market is down 5.4% over the last week alongside oil's plunge into the mid-$60s. Over the past month, high-yield energy is down 7.3%, and over the past quarter, down 11.2%.
    • The average speculative-grade energy company bond now yields 8.67%, according to the BAML index, more than 200 basis points more than the high-yield index as a whole.
    • With the sector representing 17% of the overall high-yield market, the poor performance has bled more than a little into the two largest junk ETFs, with HYG and JNK off 1.7% and 1.8%, respectively, over the past week.
    • ETFs: HYG, JNK, HYLD, SJB, ANGL, HYLS, UJB, XOVR, QLTC
    | Dec. 3, 2014, 2:01 PM | 7 Comments
  • Oct. 15, 2014, 11:05 AM
    • The spread of the junk bond index over Treasurys was below 300 basis points around the start of the summer, and around 400 bps near Labor Day. With today's sharp drop in Treasury yields (without a comparable move down in junk), the spread has blown out to more than 500 basis points.
    • HYG -0.25%, JNK -0.3%
    • Rough publicly traded equity proxies for high-yield, if you will, BDCs remain stuck in a bear market. Prospect Capital (PSEC -3.6%), Fifth Street Finance (FSC -2%), Main Street Capital (MAIN -3.8%), Blackrock Kelso (BKCC -2.6%), TICC Capital (TICC -5.1%), KCAP Financial (KCAP -4.7%).
    • BDC ETFs: BDCL, BDCS, BIZD
    • High-yield ETFs: HYG, JNK, HYLD, SJB, ANGL, HYLS, UJB, XOVR, QLTC
    | Oct. 15, 2014, 11:05 AM | 21 Comments
JNK Description
The SPDR® Barclays Capital High Yield Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Capital High Yield Very Liquid Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
See more details on sponsor's website
Country: United States
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub