Junli Henderson Market View: European High Yield Bond Market
In August, European high-yield bonds were again paid at a positive rate of return. The relevant index ICE BoAML HPIC (ICE Bank of America Merrill Lynch European Currency Non-Financial High Yield Limit Index) had a total return of 0.6%. The total compensation performance was mainly attributed to the further decline in the yield, which made the German and British public debts have a favorable trend. In addition, due to the tightening of credit spreads, excess credit remuneration is also paying attention to performance.
在股市反彈、併購消息激勵以及對醫療設備供應的強勁需求帶動下，健康護理類股於6月份以上漲作收*。不過，美國藥價改革的不確定性與推行全民健保的提案，對部分健護次產業仍是個衝擊，尤其是管理照護(managed health care) 公司與藥品供應鏈公司。6月份的表現以次產業而言，生命科學工具與服務類股漲幅最大。雖然沒有任何次產業出現下跌，但管理照護與健護科技的漲幅最小。(*註：以MSCI World Health Care Index℠美元衡量報酬率，6月份該指數上漲6.75%。)