The effect of war on pricing and spreads is widening
The economic effect of the Russian invasion of Ukraine needs to be put in context next to the human tragedy, but data is showing...
Emerging markets’ big issues in 2022
According to analysis by CreditSights, there has been a negative total return for credit in emerging markets with the exception of Gulf Cooperation Council...
What banks’ primary success can tell us about their priorities in 2022
When looking at the revenues of investment banks in Q3 2021, using Greenwich Coalition data, we can see that secondary market trading in fixed...
China focus: The outstanding debt of defaulters
Concern around issuer defaults in China is clearly based upon good evidence; our chart this week from S&P Global Ratings shows the annual growth...
2022: Big primary, smaller secondary?
Despite the expectation of rising rates across markets, S&P Global Ratings Research are predicting that issuance of new bonds across markets will not see...
Trouble ahead for traders as number of issued bonds climbs
According to data from Moody’s Investor Services, the US investment-grade companies should have few problems refunding their debt in 2022, which is useful given...
The winners in the primary market
In the bond issuance markets, there have been a few subtle changes in the top five most successful banks for syndication, and less subtle...
Focus on China’s property sector
The charts we focus on this week are from CreditSights, and look at the issuance and outstanding bonds for Evergrande, the Chinese property developer...
Is issuance for the high jump?
Data from CreditSights indicates the pace of US investment grade bond issuance fell from May, only to jump back in August, at a point...
What’s big, green and keeps traders busy?
Bond issuance sizes in the ESG space are growing, and the average size of the deals are growing too. The proportion of benchmark-sized deals...
