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Skydance Selloff Fuels Worst New-Bond Performance Since Pandemic
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Skydance Selloff Fuels Worst New-Bond Performance Since Pandemic The selloff in Skydance Corp.’s high-grade bonds following their Sept. 30 issuance resulted in new debt trailing the broader market by the most since the depths of the Covid-19 pandemic, according to JPMorgan Chase & Co. Ten-day relative performance of new issues was 27 basis points worse than those in the bank’s investment-grade index as of Oct. 8, strategists led by Nathaniel Rosenbaum wrote in a note dated Tuesday. That’s...
Skydance Selloff Fuels Worst New-Bond Performance Since Pandemic
The selloff in Skydance Corp.’s high-grade bonds following their Sept. 30 issuance resulted in new debt trailing the broader market by the most since the depths of the Covid-19 pandemic, according to JPMorgan Chase & Co.
Ten-day relative performance of new issues was 27 basis points worse than those in the bank’s investment-grade index as of Oct. 8, strategists led by Nathaniel Rosenbaum wrote in a note dated Tuesday. That’s the largest gap in six and a half years. Back out Skydance, and new issues outperformed by about four basis points, they added.