Junk bond issuance hits 20-month high - Bloomberg

|About: Aberdeen Income Credit Stra... (ACP)|By:, SA News Editor

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)

ETFs: HYG, JNK, DHY, HIX, EAD, PHT, HYT, HYLD, JQC, ACP, ANGL, CIK

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