Monthly Archives: December 2012

Default Outlook

The greatest risk we face as high yield bond investors is that of default.  Post the 2009 all-time record level of defaults, we have seen a very benign default environment, which is a massive positive for high yield and leveraged …

Posted in Peritus

Peritus in the News

Peritus was mentioned in the article, “The Financial Lexicon Positions For 2013:  Limited Bond Market Opportunities Mean Patience Is Key,” by The Financial Lexicon on Seeking Alpha, December 21, 2012.

Posted in news

High Yield Morning Update

As we wind down 2012, market activity continues at a higher pace than expected and demand for paper lasting much longer than anyone anticipated as managers position for what is expected to be a very strong January. Five new issues …

Posted in Peritus

High Yield Morning Update

The year-end slow down widely expected by the market continues to elude us, as secondary high yield bonds are still well bid and new issues continue to price. One deal priced yesterday, trading well on the break, and there are …

Posted in Peritus

High Yield Morning Update

As we head into the final two weeks of 2012, some of the strength we’ve experienced in the high yield market the last couple weeks has dissipated, replaced by inactivity, as many market participants head away on vacation and trading …

Posted in Peritus

This Week in High Yield

During a week that is traditionally characterized by slowing market conditions in preparation for the holiday season, the high yield market was unusually busy,  Yields and spreads continued to tighten, while the primary market was very busy and fresh capital …

Posted in Peritus

High Yield ETFs Gaining Ground

Inflows into the high yield market have total $23.3 billion so far this year into U.S. domiciled high-yield mutual funds and exchange traded funds, with 34%, or $8 billion, of that coming from exchange traded funds (ETFs).1   Between the inflows …

Posted in Peritus

High Yield Morning Update

We’re opening this morning with continued strength in high yield bonds, despite a small outflow yesterday of $230mm. We’ll likely see the inflow pace stall for the next couple weeks as we move into Christmas vacations and the end of …

Posted in Peritus

Peritus in the News

Peritus was mentioned in the article, “Comprehensive Guide to U.S. Junk Bond ETF Investing,” by Zacks Equity Research, December 11, 2012.

Posted in Peritus

High Yield Morning Update

The high yield market is opening with a firm bid again this morning as cash continues to flow into funds and the fiscal cliff, while still talked about constantly, is become less and less of a concern. This afternoon we’ll …

Posted in Peritus