Equities were beaten up for most of the day yesterday on negative headlines coming out of the EU summit before rallying into the close and erasing most of the day’s losses on speculation Germany might be more willing to come … Continue reading →

I wrote a few weeks ago about how many irrationalities and inefficiencies exist in the financial markets.  Turning specifically to the high yield market, as an active investor, we are able to exploit those inefficiencies when we find them. First … Continue reading →

Yesterday’s session was choppy with little direction as many market participants wait on the sidelines in anticipation of the EU summit starting tomorrow.  We are unlikely to have much conviction either way until some decisions are made on the policy … Continue reading →

Yesterday equities opened lower, and stayed lower throughout the session on continued global slowdown fears and in anticipation of the EU summit later this week failing to produce any meaningful solutions for their financial crisis. Yesterday, after market close, Moody’s … Continue reading →

The high yield market traded flat to slightly better on Friday, wrapping up a very strong week of performance for the asset class, with the Bank of America High Yield index finishing better by 0.99%. Contrasted against equity returns for … Continue reading →

After a positive start to the week, equity markets sold off aggressively Thursday, spurred by a weaker than expected jobs report which helped support growing concern that the economic recovery continues to falter. This week brought about many broadly anticipated … Continue reading →

Equity markets sold off sharply yesterday in anticipation of Moody’s well publicized downgrade of 15 global banks after market close, ending with the second worst performance day of the year. Despite this massive sell-off in equities, high yield bonds ended … Continue reading →

Despite a flat day in the equity markets yesterday on disappointment over a lack of QE3 from the Fed, high yield bonds were much better as the hunt for yield continues. The spread on the Bank of America High Yield … Continue reading →

Yesterday was a decidedly “risk on” day as speculation grew throughout the session that the Fed was prepared to take further easing actions and Europe was relatively quiet. The high yield market was a huge beneficiary of the increase in … Continue reading →