High Yield Financials: The Weekly Ledger

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High Yield Financials: The Weekly Ledger

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High Yield Financials

The Weekly Ledger

Industry Overview

Summary of significant developments in the Financial Services sector for the 13 July 2026

week ended July 9, 2026. High Yield Credit

AmericasMarket Commentary

Best and Worst Performers

News Summary Ryan Shelley

ICE BofA High Yield Indices ResearchBofAS Analyst

OAS for BDC, Insurance, and Financials Indices +1 646 855 8283

ryan.shelley@bofa.com

High Yield Financials Earnings Calendar

Trading – Financials Bond Price Changes and Returns EvanResearchSilviaAnalyst

Relative Value Tables BofAS

+1 646 855 6708

evan.silvia@bofa.com

High Yield Financials Market Commentary

The HY Financial Services sector outperformed the broader market this week, returning

0.2% vs. 0.1% for the ICE BofA US HY Index. As of July 9, the Financials Services sector

was trading at a YTW of 6.9% and STW of 262bps versus the HY Index at a YTW of 7.1%

and STW of 289bps.

The top performing financials bonds this past week were Cobra Acquisition Co LLC’s

6.375% senior notes ’29, UWM Holdings LLC’s 6.250% senior notes ’31, Cobra

Acquisition Co LLC’s 12.250% senior notes ’29, Burford Capital Global Funding’s 8.500%

senior notes ’34, and Osaic Holdings Inc’s 8.000% senior notes ’33. Ten-year treasury

yields were up 6bps week over week. The worst performing bonds this past week were

Pagaya US Holdings Co LLC’s 8.875% senior notes ’30, Asurion LLC’s 8.375% secured

notes ’34, Navient Corp.’s 9.375% senior notes ’31, Midcap Financial Issuer Trust’s

5.625% senior notes ’30, and Nassau Cos of New York’s 7.875% senior notes ’30.

News Summary Highlights – AMWINS, HBGCN, JANEST

News from the week ended July 9th includes:

Amwins Group Inc. (AMWINS) – Exclusivity period extended by four weeks for