Bear Stearns High Yield Index loses 0.29% in most recent week, now down 0.41% year to date

New York, June 10 - The Bear Stearns High Yield Index slipped back in the most recent week, dropping away from break even after a strong surge in the two previous weeks.

For the week to June 9, the index lost 0.29% and it is now down 0.41% year to date.

The previous week the index had soared 1.47%, and the week before that it had jumped 1.73%.

The index has now reported gains in 35 of the past 52 weeks.

Thus far in 2005, the index has posted 11 positive weekly returns versus 12 negative ones.

Nine of the 11 industry sectors making up the Bear Stearns index were in the red for the most recent week.

The index's yield to worst widened 12 basis points to 8.00% during the week to June 9, while the yield-to-worst spread widened 2 bps to end at 423 bps.

Finance was the leading industry sector for the week, gaining 0.39%, helped by a 0.95% return for its insurance component, which was the best performing sub-sector in the seven days.

Finance is now up 1.24% year to date while insurance is better by 2.26%.

Media showed the biggest loss for the week just completed, dropping 1.17% with its year-to-date loss now at 1.39%.

Media's North American cable component was the worst performing sub-sector, losing 2.28% for a year-to-date return of negative 3.99%.

Telecommunications remains the leading sector for the year so far with a 1.82% total return after losing 0.58% in the week to June 9.

Its cellular component is the number one placed sub-sector with a 7.42% performance for 2005 so far despite losing 0.55% in the last seven days.

At the other end of the spectrum, transportation remains in last place with a 9.96% loss after dropping 0.21% in the week just completed.

Its airlines component is the last place sub-sector with a loss of 26.02% since Jan. 1, after dropping 0.68% in the most recent week.

The index ended the week with a market value of $535.43 billion compared to $536.92 billion the previous week. The number of issues held steady at 1,734.

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