Junk bond funds attract flows, bond sales at 2-year high
- U.S. high-yield funds pulled in $3.86B for the week ended Friday, the largest amount since July of 2016, according to Lipper data.
- Meanwhile, $6B in new U.S. junk bond issues mark the most for a single day since March 2017.
- CCC-rated Clear Channel priced at lower end of talk; deal increased to $2.235B from $2.2B after receiving orders of more than $5B.
- CommScope boosted its offering by $750M after receiving orders of about $8B; $3.75B 3-part offering priced at tight end of talk.
- High-yield stands out as best-performing segment in fixed income with 4.93% return YTD; CCCs offer the best returns at 5.73% YTD.
- Source: Bloomberg First Word.
- Previously: U.S. junk bonds post best January since 2009 (Feb. 1)
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