U.S. junk bond issuers rush to the market, pricing $3B in bonds on Thursday and bringing this week's total to $12B, the busiest week since September 2017, Bloomberg First Word reports.
Even with secondary market weakness, yesterday's issuances were oversubscribed. For example, Bausch Health's $1.5B 2-part notes priced at lower end of talks after getting orders exceeding $3B combined.
The high-yield index fell 0.22% in its fourth straight day of losses and the biggest drop since March 8.
Lipper reported high yield fund outflows of $212M.
Previously: Junk bonds YTD index returns gain across all ratings (March 29)
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