Below-investment-grade fixed-income securities continue to post a sizable year-to-date performance lead over the rest of the major slices of the US bond market, based on a set of exchange-traded funds. The strong gain for junk bonds is all the more striking when measured against the mixed results for the rest of the field.
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Trump defers to Pelosi and agrees to delay SOTU speech: Politico
Upcoming Senate votes on reopening gov’t expected to fail: Bloomberg
Aviation workers: gov’t shutdown poses rising risk for air travel: NY Times
Venezuela’s opposition leader claims presidency, receives US support: Reuters
American business leaders remain upbeat on economic outlook: NY Times
Poll: US growth will slow in Q1 due to gov’t shutdown: Reuters
Eurozone economy close to stalling in Jan via PMI survey: IHS Markit
Global gov’t debt rose to $66 trillion at 2018-end–double year-ago level: Fitch
US FHFA House Price Index increased 5.7% in Oct vs year-ago level: HousingWire
Richmond Fed: mfg activity was ‘soft’ in Jan in the bank’s district: Richmond Fed
Earnings sentiment (ERR) is weakest since mid-2016: BlackRock