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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CREDIT MACRO
Investors have been piling into Global High Yield Indices since the August 5th market sell off, with the yield on the BBG High Yield Index falling about 60bps from Aug 5 highs or 35bps from prior, while yields on IG bonds have held steady since.
- Global IG yields have been fallen 51bps in yield since the start of July, with all those move happening before Aug 5.
- Global HY yields saw some early July move lower, although the move has accelerated post the Aug 5 sell-off, with yields now at the lowest since June 2022.
- Flows into US High Yield funds have also increased over the month with the BFFUEHY Index (HY) showing m/m inflows of 2.07b, vs m/m outflows for the BFFUEAG Index (IG) of 100m.
HY vs IG Yields - (Source: BBG)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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