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CREDIT DAYBOOK AMERICAS: Dealers Looking for Issuance Window

May 16, 2022, 11:33 AM

Dealers will be looking for any opportunity to issue this week as syndicate desks are estimating $30 billion of new high-grade bond sales for the week. The leveraged loan market is grinding to a halt following an intense sell-off.

  • Issuers are navigating an increasingly volatile market backdrop and higher borrowing costs resulting in a growing backlog of US investment-grade debt after supply missed estimates for a third consecutive week last week
  • The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, widened 0.19 basis points to 85.6 as of 7:30 a.m. New ...