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Home ‘BoB’ – Barnes on Bonds
‘BoB’ – Barnes on Bonds
SECONDARY MARKETS
Price volatility in credit
We saw a big drop in average bid-ask spreads (>7%) for US investment grade (IG) last week, possibly a response to the massive levels of issuance that came out in the first week of...
Analysing the split between US and EU investment grade trade sizes
Recent reports that high yield (HY) trades are increasing in size and investment grade (IG) are shrinking, have ignored the year-on-year growth of European investment grade trade sizes; in fact it is US IG...
PRIMARY MARKETS
September explodes with new corporate bonds
Traders report expectations of outsized corporate bond issuance, with up to US$60 billion expected in US investment grade issuance, and reached $53 billion last week, with year-to-date (YTD) supply tracking at $1.3 trillion (4%...
European debt is standing up for primary markets
Global debt capital market (DCM) deal count year-to-date is down 5% year on year, according to Dealogic data. However, the local market pictures present a more nuanced view, and Europe is the clear source...
