Bear Stearns High Yield Index gains 0.37% on week, year-to-date return now 10.59%

St. Louis, Dec. 17 - The Bear Stearns High Yield Index posted a positive return during the week to Dec. 16, moving ahead 0.37%, advancing the year-to-date return to 10.59%.

The gain follows the previous week's 0.78% advance. The index has now reported gains in 22 of the past 27 weeks.

All 11 of the industry sectors that make up the index posted gains for the week.

The transportation sector led all others during the five-session period, posting a 0.72% return. The sector has returned 2.50% year to date. Driving the gain was the sector's airlines component, which moved ahead 0.99% on the week, and trimming its year-to-date losses to negative 4.99%.

Among the few sub-sectors posting losses during the week to Dec. 16, the consumer cyclical sector's retailers component lost 0.24%, trimming its year-to-date return to 7.21%. However, the consumer cyclical sector, as a whole, gained 0.21% on the week, hiking its year-to-date return to 10.11%.

Basic materials remained the top sector for 2004 year to date, with a 13.36% total return, having picked up 0.39% on the week.

Textile and apparel remained the number one sub-sector year to date, at 29.04%. However, it gave up 0.09% higher for the week.

The index ended the week with a 6.88% yield to worst, down 5 basis points from the previous week.

The yield-to-worst spread ended the period 10 basis tighter at 334.

The index ended the week to Dec. 16 with a market value of $551.70 billion compared to the previous week's $551.17 billion. The number of issues remained unchanged at 1,729.

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