Bear Stearns High Yield Index off 0.03% in week to Jan. 19, now up 0.80% year to date

By Paul Deckelman

New York, Jan. 20 - The Bear Stearns High Yield Index eased by 0.03% during the most recent week, lowering the index's year-to-date return to 0.80% from 0.83%.

In the previous week, ended on Jan. 12, the index had gained 0.20%.

For the most recent week, the index's yield-to-worst spread widened by 11 basis points to 396 bps. The yield to worst increased by 8 bps on the week to 8.31%.

The index has reported losses in 28 of the past 83 weeks and 55 gains.

Six of the 11 industry sectors making up the index posted losses in the most recent week, versus five sectors showing gains.

The energy-oil and gas sector was the week's best performer, returning 0.46%, and it also took over the top spot on a year-to-date basis with a 1.56% return, passing the consumer cyclicals sector, which fell to 1.38% from an index-best 1.67% return in the previous week.

The energy grouping's pipeline sub-sector beat all other index sub-sectors, rising 0.80% on the week, followed by convenience and drug retailers and insurance, both up 0.71%. On a year-to-date basis, the consumer cyclicals sector's automobile manufacturing-related component had the best return, at 2.37%, followed by the pipeline sub-sector, up 2.24%, and integrated energy, up 2.07%.

The week's worst-performing sector was consumer cyclicals, down 0.29%. The worst-performing sector for the year to date was telecommunications, with a 0.26% return, smaller than any other sector's cumulative return.

The week's worst-performing sub-sector was airlines, in the transportation sector, down 2.81%. On a year-to-date basis, the telecommunications sector's PCS and enhanced specialized mobile radio component was down 1.31%, passing the media sector's motion picture exhibition sub-sector, which was down 0.72%.

The market value of the index ended the week at $571.346 billion, down from the previous week's $581.427 billion. The number of issues fell by seven to 1,694 issues.

© 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.