HIX News and Press, Western Asset High Income Fund II Inc. From 07/05/20

High-yield bonds have a reputation for volatility. But history shows that the US high-yield sector's yield to worst has been a reliable indicator of its return over the following five years. In fact, US high-yield bonds have performed predictably, even through rough markets. The relations...

The COVID-19 crisis has impacted asset valuations, increased volatility and led to reduced liquidity in many cases. Most asset classes have been affected, and governments have stepped in to support financial operations. In this paper, we examine the effects of the crisis on the year-to-date li...

Note: This article was released to CEF/ETF Income Laboratory members on June 22, 2020, and data are from that date. This month, I'd like to take a look at Pioneer High Income Trust ( PHT ), the second-highest ranked "DxYxZ" fund (good combination of discount, yield and z-score). It clos...

Rick Rieder, Russ Brownback and Trevor Slaven contend that in the tug-of-war between the considerable economic damage stemming from the coronavirus and subsequent lockdowns, and the fiscal and monetary policy responses put in place, the latter factor is being underestimated by markets. Furthe...

Junk issuers have sold $46.7B of bonds so far in June, topping the previous monthly record of $46.4B in September 2013, according to data compiled by Bloomberg . More news on: iShares iBoxx $ High Yield Corporate Bond ETF, SPDR Bloomberg Barclays High Yield Bond ETF, BlackRock Corporate H...

The lack of issuance and supply over the last almost year or so, that's what makes the TIC data so fascinating. And relevant, if for other reasons, too. CLO issuance, according to a bunch of sources, peaked back last June. Remember that whole "recession scare" with the yield curve last summer?...

Western Asset High Income Fund II Inc. (NYSE: HIX) announced today that the Fund’s Board of Directors has authorized (subject to certain conditions) a cash tender offer for up to 35% of the Fund’s outstanding shares of common stock (the “Shares”) at a price per Sha...

Western Asset Global High Income Fund Inc., Western Asset High Income Fund II Inc., and Western Asset High Income Opportunity Fund Inc. to Commence Tender Offers Saba Capital Management, L.P. and certain associated parties (collectively “Saba”) today issued the followin...

Billionaire investor and GMO co-founder Jeremy Grantham is growing more and more sure that the U.S. stock market's rebound amid the coronavirus pandemic is a bubble that will end up hurting many people. "My confidence is rising quite rapidly that this is the fourth 'Real McCoy' bubble of my...

So much of the mainstream financial media focuses on the stock market, and yet the corporate bond markets, and that would include securitized product and even municipal bonds, have (in my opinion) a huge information vacuum for the smaller advisor or individual investor. The corporate bond ma...