latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/leveraged-loan-news/april-performance-industry-us-high-yield-bond-market content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

April Performance by Industry, US High Yield Bond Market

Market pros see leveraged loan default rate holding at low levels

S&P: BBB downgrade risks in Europe look manageable

As specter of rate cuts grows, investors retreat from leveraged loan asset class

Retail investors flock to US high yield bond funds with $1.8B inflow

April Performance by Industry, US High Yield Bond Market

High yield expert Martin Fridson, on industry performance in the U.S. bond market (part of Marty’s weekly commentary for LCD):

Telecommunications led the 20 major high-yield industries in return in April, doubling the performance of the second-place finisher, Energy. Notwithstanding the outsized returns on Sprint issues (word emerged last month that Spring and T-Mobile were discussing a merger), the Telecom rally was quite broad-based. The non-Sprint portion of the ICE BofA Merrill Lynch High Yield Telecommunications Index returned 2.26%, still well ahead of runner-up Energy. As usual, Energy’s performance was closely tied to crude oil prices. As measured by West Texas Intermediate futures, the price surged from $64.87/bbl., to $68.57/bbl. in April.

Automotive & Auto Parts finished dead last, as it did in March. This time the industry’s return was strongly skewed by a single issuer, American Tire Distributors, which lost distribution rights for the Goodyear, Dunlop, and Kelly tire brands. The ATD 10.25% notes due 2022 accounted for just 2.3% of the ICE BofA Merrill Lynch High Yield Automotive & Auto Parts Industry’s market value, but its –47.12% return dragged down the –0.60% return for the rest of the group all the way to –1.69%. That being said, Automotive & Auto Parts was the only major industry to post a negative return in April. 

Mary’s full weekly analysis is available to LCD News subscribers here. 

Try LCD for Free! News, analysis, data

Follow LCD on Twitter.

LCD comps is an offering of S&P Global Market Intelligence. LCD’s subscription site offers complete news, analysis and data covering the global leveraged loan and high yield bond markets. You can learn more about LCD here.