CREDIT DAYBOOK AMERICAS: Busy Session Ahead for High-Grade Debt

Investment-grade firms are expected to frontload their dollar-bond sales this week to avoid any volatility associated with the Federal Reserve’s policy decision on Wednesday.

• Between 10 and 15 borrowers are seen selling debt on Monday, with around $30 billion of volume projected for the week
  • Three foreign firms entered the US high-grade market overnight — Hyundai Capital Americas, RBC and Hong Kong-based insurer FWD — while BMO just announced its own offering
• Funding conditions remained attractive last week, with investment-grade yields dropping by four basis points to 4.74% and spreads tightening by three basis points to +74
• The reduced borrowing ...