| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Review > Headlines for 2018 > News item |
Morning Commentary: Junk off a touch in light pre-holiday volume; AK Steel among active names
By Paul A. Harris
Portland, Ore., May 25 – High-yield bonds were a touch softer on a pre-Memorial Day Friday on light volume, a trader said.
The Friday morning trade count was about half that of Thursday morning, the source commented.
The iShares iBoxx $ High Yield Corporate Bd (HYG) was down 0.13%, or 11 cents, at $85.59 per share at midmorning.
The most active segment of the market was energy, which was lower on the day, the trader said.
The barrel price of West Texas Intermediate crude for July 2018 delivery was off sharply at $68.76, down $1.95, or 2.76% at midmorning.
There was also a disproportionate amount of flow in the bonds of AK Steel Corp., the trader said.
The AK Steel 6 3/8% senior notes due October 2025 were 92¾ bid, 93½ offered, up ½ point or so.
The new issue market was quiet, and the deal calendar thin ahead of the extended holiday weekend, which was set to get underway with the early 2 p.m. ET close recommended by the Securities Industry and Financial Markets Association.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.