Barnes-on-Bonds-Primary

Competition for debt issuance fierce as activity remains

Primary debt markets are likely to be a major revenue earner for dealers facing tighter margins in secondary bond markets. Issuance has started strongly...

China government bond issuance reducing transparency of total social finance

Understanding state support for the economy in China can be measured across several dynamics, but debt provision to the non-financial private sector, known as...

DCM deals substantially up year-on-year

Total deal size volume for debt capital markets, year-to-date is up 32% on 2023, according to data from Dealogic. The trend in regional deals has...

Moody’s: Short-term refinancing to grow in 2025

A report from rating agency Moody’s, has found that the proportion of US non-financial investment-grade corporate bonds needing refinancing within five years has grown...

The election effect: Issuance in an election year

Looking at Dealogic data for debt issuance over the past four year tenures of US presidents, it is notable how much the macro picture,...

UK government debt issuance soars

The latest report from the Association for Financial Markets in Europe (AFME), looking at European government bond markets, found that €1 trillion of bonds...

Ongoing effect of CSPP on European credit markets

Europe has seen considerable growth in credit issuance this year relative to 2023, with last week finding a 116% year-on-year increase in non-financial high...

Money markets begin to tail off as rates fall

Reviewing the second quarter activity in primary markets and fund flows, we see the total notional outstanding in US fixed income totalled US$45.3 trillion,...

The Book: Expectations for common European debt issuance

A report by Mario Draghi, former European Central Bank president, looking at paths forward to improve the European Union’s competitiveness, has found a solid...