Bear Stearns High Yield Index slips 0.01% in latest week, now 1.48% higher year to date

New York, Feb. 20 - The Bear Stearns High Yield Index slipped back marginally in the most recent week, edging down 0.01%.

The index is now up 1.48% since Jan. 1.

The decline for the seven days to Feb. 19 follows a gain of 0.83% the week before and sharp drops the two weeks before that.

Telecommunications was the week's worst performer among the 11 industry groups making up the index, falling 1.02%. It is now down 0.06% year to date, putting it in last place and making it the only one of the 11 to show a loss for 2004 so far.

Consumer non-cyclicals was the strongest gainer, adding 0.36% for a year-to-date return of 1.99%.

However finance remains the winner year to date with a 3.44% return after adding 0.18% in the week to Feb. 19.

Overall four of the 11 sectors dropped in the most recent week, six rose and one, technology, was unchanged.

Cellular was the worst performer among the narrow sub-sectors making up the broader 11 industry groups, plunging 3.17% in the seven days for a year-to-date loss of 2.19%.

However telecommunications' satellite sector is in last place for the year so far with a negative 2.28% total return after moving down 0.46% in the most recent week.

Metals was the biggest gaining sub-sector, adding 0.98% and taking its year-to-date return to 3.07%.

But "other consumer non-cyclicals" remains in first place after rising 0.64% in the week just completed, taking its return since Jan. 1 to 6.88%.

The index's yield to worst ended the week at 7.47%, down three basis points from 7.50% the week before. The yield-to-worst spread was unchanged at 463 basis points.

The index ended the week to Feb. 19 with a market value of $506.51 billion in 1,668 issues, both up from $504.92 billion in 1,661 issues a week earlier.

© 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.