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CREDIT DAYBOOK AMERICAS: Issuance Freezes; Credit Risk Drops

May 20, 2022, 11:30 AM

Increased volatility in the markets this week could cause issuers in the investment grade and leveraged loan markets to stand down for a second day. A key measure of credit risk, the investment grade CDX, opened tighter on Friday, slipping from two year highs seen earlier in the week.

  • No companies moved forward with new US investment-grade bond sales on Thursday as growing concern that high inflation is cutting into corporate performance consumes global markets
    • About three issuers were on the calendar, but syndicate desks likely held off new deals given the selloff
  • The leveraged loan market remains ...