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The definitive guide to the high-yield bond market

A high-yield bond is a debt security issued by a corporation with a lower-than-investment grade rating. Get answers to similar questions about high-yield bonds from our primer below.

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LCD news & analysis

News from the leveraged loan markets—as well as the high-yield bond and distressed debt and bankruptcy sectors—produced by our team of experienced journalists and analysts.

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Leveraged loan trends

      Loan market at a glance

      Month-to-Date Change from Last Month Year-To-Date Change from 2021
      Avg. Clearing Yield (data as of 11/24/22) NA NA 6.66% 1.50%
      Avg. Bid S&P U.S. HY Corporate Bond Index 87.149 1.22 87.15 -15.7
      Return S&P U.S. HY Corporate Bond Index 0.91 -0.61 -10.92% -14.10%
      HY Bond Volume (bils) 12.67 8.72 100.01 -354.96
      Institutional Loan Volume 25.16 16.41 217 -371.83
      Leveraged Finance Volume (including pro rata) 47.17 22.03 522.98 -695.6
      June 2022 LCD article for “US high-yield funds scorched with $5.7B outflow, heaviest since 2018.”

      LCD news & insights

      With real-time news and proprietary analytics, LCD provides news and technicals for the US and European leveraged loan, high-yield bond, distressed, and investment-grade corporate markets. Plug into the leveraged finance space with some of our complimentary stories on originations, downgrades, and other market-level trends.

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      Our High-Yield Bond Primer details the high-yield bond market

      What is a high yield bond? Our free online primer is the definitive guide to the asset class. It covers high yield use of proceeds, issuer types, the investor universe, bond structures, covenants, bond math, registration, and everything in between.

      Read the primer
      LCD high yield bond primer with chart showing US High yield bond issuances - monthly from January 2016 to April 2017.

      See how LCD’s news and data can help you track the market

      On-demand LCD webinars

      Watch our free, on-demand webinars from Leveraged Commentary & Data (LCD).