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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.
Read our primerNews 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.
Read news| Month-to-Date | Change from Last Month | Year-To-Date | Change from 2022 | |
|---|---|---|---|---|
| Avg. Clearing Yield (all data as of 2/9) | 7.89 | 0.52 | 7.63% | 1.78% |
| Avg. Bid Morningstar US High-Yield Bond Index | 88.18 | -0.9 | 88.19 | -10.3 |
| Returns Morningstar US High-Yield Bond Index | -0.66 | -4.57 | 3.25% | 7.20% |
| HY Bond Volume (bils) | 13.43 | -7.17 | 34.03 | 0.67 |
| Institutional Loan Volume | 27.3 | 13.63 | 40.97 | -54.95 |
| Leveraged Finance Volume (including pro rata) | 45.22 | 6.04 | 84.4 | -72.28 |
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.
Read newsWhat 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
Watch our free, on-demand webinars from Leveraged Commentary & Data (LCD).
Upheaval, volatility, rebound—The US leveraged market finds its footing amid global turmoil
The US leveraged loan market activity of 2022 has been punctuated by severe and uncharacteristic volatility, which has prompted issuers and arrangers alike to adapt. We also check in on the leveraged loan markets’ transition from LIBOR to SOFR, a new benchmark rate.
US leveraged loan market analysis/outlook
We detail a US leveraged market that has become more challenging for debt issuers and private equity sponsors amid uncharacteristic volatility, rising spreads in yields and concerns over the long-term economic outlook. We also dive deep into tech LBOs and what’s to come in 2022.