The high yield market trade flat today on low volume as commodities and rate concern continue to force investors out of the market. The yield on the Bank of America High Yield Index widened 2bps to 7.14% on the day while the spread on the index widened 1bp to +560bps. Two deals priced Monday for proceeds of $1.1 billion in proceeds. Service Corp International priced an add on to its existing 5.375% notes to refinance existing debt, pricing at $103.75, while MSCI Inc priced an upsized $800 million deal at 5.75% to buy back stock. Both deals traded moderately higher on the break.

The Bank of America Merrill Lynch High Yield Index monitors the performance of below investment grade U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market.  Index data sourced from Bloomberg. BAML HY represents the index yield for the designated date, while return/change represent the index return for the period ending date. Yield referenced is the yield-to-worst and spread referenced is the spread-to-worst.