Primary markets

Selling the dip

Credit investors may see the relative calm in the market at present as a point at which to trade into safer positions, according to...

Insights and Analysis: Citadel Securities challenges primary market conflicts

A year ago, rumours in the bond markets suggested that Citadel Securities might be planning a move into bond issuance, a move which buy-side...

CUSIP issuance up YoY, but March decline signals concern

Year-to-date CUSIP issuance, which is indicative of new debt securities being issued, has increased year-to-date against 2024 figures, according to CUSIP Global Services (CGS). Its latest...

Measuring digital bond issuance

The use of distributed ledger technology (DLT) to issue bonds can tackle several concerns in the debt markets. Firstly, it reduces the fragmented information...

Origination: KfW drives the leading edge of bond issuance

The supranational, sub-sovereign and agency (SSA) bond issuers are expected to be the most forward looking issuer group in evolving primary debt markets. The DESK...

Refinancing debt: New bonds, old problem

A new paper from Bank of America’s credit strategist Neha Khoda and Adam Vogel has found that bond issuers are facing a significant increase in costs...

The Book: Who will drive reform in primary markets?

Primary market practices are under pressure to change, however the urgency and direction given for adaptation are often skewed by specific market participant groups. The...

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...