CREDIT DAYBOOK AMERICAS: Falling Yields May Extend Sales Rush

Another active week is expected in the corporate bond market after Treasury yields fell sharply last week and issuers look to get ahead of next week’s Federal Reserve meeting.

• The rally allowed US investment-grade notes to gain 1.17% to start September, the best weekly performance since mid-April
• As average yields are at an 11-month low of 4.78%, dealers forecast $45 billion to $50 billion of high-grade issuance this week
  • Deals are already in the market Monday from overseas banks Westpac and Bank of Nova Scotia
• EchoStar has reached a $17 billion deal to sell wireless spectrum to SpaceX, less than ...