CREDIT DAYBOOK AMERICAS: High-Grade Set for Worst Run Since 2023

This week’s losses for US investment-grade corporates has that market on pace for its first three-month losing streak since 2023, according to a Bloomberg index.

• Fueled by Wednesday’s loss as Treasuries sold off, high-grade returns are -0.56% this week and -1.16% for May heading into Friday’s trading
• Little US debt capital market activity is likely Friday with bond exchanges closing early ahead of the Memorial Day holiday weekend
  • It’s been a busy past several days, with investment-grade issuance topping dealer forecasts each of the past four weeks
  • At least nine leveraged-loan transactions priced Thursday, the most in three ...