Investment-grade issuance picked up steam after the FOMC meeting Last week, investment-grade bond (LQD) issuance remained sturdy, reaching $22.7 billion from 17 issuers. The week started front-loaded given the pending…
A bullish week Last week was yet another bullish week for the leveraged loan market. A total of 12 deals priced almost $13 billion worth of leveraged loans (BKLN). Extremely…
Last week’s high yield market The high yield market was very busy last week. A total of 20 transactions priced a total of $10 billion, slightly down from the $13…
While investors were pretty hyped that tapering hasn’t started yet, they may have finally realized that tapering will happen at some point in the near future.
Out of the 17 bonds that priced, seven were acquisition-related, nine were refinancing, and only one was related to a dividend recap.
Spike in high yield volumes showcased market strength The high yield bond market (JNK) was very busy for the week ended September 13, as issuers tried to get to the…
Fund flows have started to show investors favoring loans over bonds for many weeks now.
Last week, the leveraged loan market volume slowed to a drip. A mere $1.5 billion priced across five deals, though one deal dominated the issuance.
Year-to-date, investors have piled a total of $43.7 billion into investment-grade corporate bond (BND) mutual funds.
While the high yield bond (HYG) issuance came back to life last week, investor appetite was back to a weak level.
Treasury yields expanded 9 to 14 basis points all along the curve, with a slight pullback on Friday after very disappointing payroll data.
At current debt levels, the United States can continue servicing its debt until approximately October or November this year
The investment-grade corporate market (BND) came back to life after a dead week due to the Labor Day weekend and Jewish holidays.
One jumbo deal and three smaller deals priced almost $8 billion last week, as issuers attempted to get to market ahead of the FOMC ( Federal Open Market Committee) meeting.
Given the short week squeezed between holidays, issuers gave out some non-call candy to attract investors.
Why the leveraged loan market (BKLN) had an inflow of $1.2 billion USD, maintaining a very strong and steady pace for several months now.
Fund flows recovered after steep pullbacks the week before Labor Day. Nonetheless, the major fixed income indices showed weakness for the weak.
While it’s likely that rates will increase and fixed income prices may drop, the only certain thing is that September will likely be more volatile than the past month.
As expected, the volumes during the last week of August were slowed to a crawl across all fixed income sectors.
Several factors could adversely affect the market in the first half of September. From concrete action by the Fed to war in Syria, these events could become market-moving beyond the fixed income market.