Zero-Deal Days Surge as Turmoil Shreds Blue-Chip Bond Sale Plans

Companies are expected to sell nearly another $1 trillion of high-grade bonds in the US this year, and timing those sales is harder than it’s been in years, as tariff policy changes spur market turmoil.

This year, there have been 22 days with no investment-grade bond sales, one of the highest of the last decade, worse even than during the early part of the Covid-19 pandemic, data compiled by PitchBook show as of April 9. The figure is second only to the regional banking crisis and failure of Credit Suisse in 2023.

That’s resulted in big swings in the amount ...