The DESK’s Risk & Return is the single channel for issuers and investors to access data, research, legal advice and credit rating information to support issuance and investment in debt via the primary market.
INSIGHTS & ANALYSIS
Insight & Analysis: Municipals’ primary and secondary markets hit records
According to Sifma data, municipals’ primary markets issued a record US$162.8 billion of new debt in the second quarter of 2025, eclipsing the previous quarterly high of US$142.2 billion set in Q3 2024.
The...
ORIGINATION
Origination: Issuer profile – BNP Paribas
BNP Paribas was the largest bond issuer in Europe in Q2 2025, with €7 billion of debt placed in the market. In total it has €251 billion of medium to long term debt outstanding.
Approximately...
INVESTOR DEMAND
Investor Demand: African funding deficit offers IB opportunity
Infrastructure funding needs and external debt service obligations in Africa are growing, and the traditional method of using Eurobonds for financing is no longer cutting it, according to a recent Coalition Greenwich report. Investment...
RULES & RATINGS
Rules & Ratings: EM credit risk on the rise, says Fitch
Fitch Ratings has revised its sector outlooks for APAC, Eastern Europe and Sub-Saharan Africa sovereign to ‘deteriorating’ from ‘neutral’ as credit risk rises.
Credit risk is increasing for emerging market (EM) issuers, the agency stated,...
THE BOOK
The Book: Nissan prices US$5.8 billion in recovery plan
Nissan has priced JPY 860 billion (US$5.8 billion) in USD- and euro-denominated bonds and JPY-denominated convertible bonds.
Approximately JPY 660 billion (US$4.5 billion) will be issued in USD- and euro-denominated bonds, with the remaining JPY...
This page is dedicated to research articles on primary fixed income markets. For further information please contact Dan Barnes.
