CREDIT DAYBOOK AMERICAS: $25 Billion on Tap in High Grade Sales

A key measure of credit risk is little changed as stocks struggle amid fresh worries about China’s economic recovery. The pace of investment-grade bond sales is expected to pick up this week, with $20 billion to $25 billion projected. Meanwhile, RSA Security has riled some of its lenders over plans to use a chunk of the $1.4 billion proceeds of an asset sale to fund a tax distribution.

• The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, tightened 0.08 basis points to 70.0 as of 7:27 a.m. New York time
• July ...