Junk ETFs see positive Tuesday flows; market awaits early 2018 calendar

By Paul A. Harris

Portland, Ore., Jan. 3 – With a strong bid and a good market tone, high yield appeared to get off to a solid start in 2018, a bond investor said on Wednesday.

Emerging markets, as well as European and U.S. junk were up 12 basis points on Tuesday, the source added.

High-yield ETFs were higher in the early going on Wednesday.

The SPDR Blmbg Barclays High Yield Bd ETF (JNK) was up 0.16%, or 6 cents, at $36.82 per share at midmorning.

The iShares iBoxx $ High Yield Corporate Bd (HYG), at $87.46 per share, was up 12 cents, or 0.13%.

High-yield ETFs saw $363 million of daily cash inflows on Tuesday, the investor said.

However actively managed high-yield funds were negative on the day, sustaining $205 million of outflows.

Meanwhile the primary market remained dormant early Wednesday, with sources saying that the 2018 new deal machine might not reactivate until early in the Jan. 8 week.

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