The Latest News:
- According to Lipper data, high-yield funds saw $909 million in withdrawals in the week ended Jan. 30, reports Matthew Fuller for Forbes.
- Corporate borrowers with a less stellar credit rating sold $27.7 billion in debt this year, compared to $43.3 billion for the same period year-over-year, a 36% decline, Financial Times reports.
- The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark used to hedge against losses or speculate on creditworthiness, rose 3.1 basis points to 74.4%, the highest level since November, reports Jessica Summers for Bloomberg.
- Swaps are rising due to weak manufacturing data, which decreased to 51.3 from 56.5 in December, the largest decline since December 1980.
SPDR BofA Merrill Lynch Cross Over Corporate Bond ETF
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Max Chen contributed to this article.