High-yield assets began trading up after the release of the June ISM Index reading that came in at 50.9 (vs. a consensus 50.5), and a construction spending reading of 0.5 that hit analyst estimates. As hard as it is to judge investor behavior during a session in a holiday-shortened week, I believe buyers will be back in even higher numbers now that their vacations are over.
Meanwhile, a number of the high-yield names I recommend to Cash Machine subscribers are trading at very attractive entry points, and also are set to benefit from some positive news of their own: BGC Partners (BGCP), Navios Maritime Partners LP (NMM) and Prospect Capital (PSEC).
Source: InvestorPlace
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