Markets are opening flat this morning as debate continues between the bulls and bears over the next direction after a big run to open this year. US high yield funds reported another outflow yesterday totaling $144 million, and the yield on the Bank of America High Yield Index continued to back up closing at 5.92%, 2bps wider on the day and now off 32bps since hitting a record low of 5.60% on Jan 15th. Five high yield deals priced yesterday between two new deals and three tack-on deals, totaling $1.2 billion. Only two deals on the calendar for today, but several more are being marketed for the next couple weeks and deals will continue to get done.
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