CREDIT DAYBOOK AMERICAS: Big Bond Gains; IG Issuance to Slow

US junk bonds are on track for the biggest monthly gains in more than a decade, while global credit is headed for the biggest monthly gain since November 2020. Syndicate desks are projecting $25 billion to $30 billion of high-grade issuance next week and $70 billion to $80 billion for August, after $86 billion priced during that month in 2021.

• The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, widened 0.28 basis points to 80.8 as of 7:16 a.m. New York time Friday
  • The Markit CDX North American High Yield Index price, ...