U.S. junk bonds decline amid trade uncertainty, oil rebound

• Junk investors pulled cash from U.S. high-yield funds for three straight weeks and seven of the last 12 weeks, with Lipper reporting an outflow of $828M last week.
• Yields rose across ratings and spreads widened when equity markets slid amid U.S.-China trade policy uncertainty and oil logging in its biggest weekly gain in three weeks.
• Supply shortage is expected to persist with Barclays forecasting about $180B-$200B next year, little changed from 2018.
• Source: Bloomberg First Word.
• ETFs: HYG, JNK, DHY, HIX, EAD, PHT, HYT, HYLD, JQC, ACP, ANGL, CIK, MCI, DSU, SJB, KIO, NHS, CIF, ARDC, IVH, GGM, AIF, MPV, FHY, PHF, JSD, VLT, HYLS, DHG, PCF, MHY, UJB, FALN, CJNK, HYIH, HYLB, HYXE, WFHY, HYDB, BSJP, HYUP, USHY