Category Archives for "Corporate Bond Issuance"

31st October 2017

We can never get enough

MARKET CLOSE:
iTraxx Main

50.0bp, -0.6bp

iTraxx X-Over

225.2bp, -3bp

10 Yr Bund

0.37%, unchanged

iBoxx Corp IG

B+97.7bp, -1.5bp

iBoxx Corp HY

B+259.2bp, -2.5bp

10 Yr US T-Bond

2.37%, unchanged

FTSE 100

,
DAX

,
S&P 500

,

And we can go on…

IG credit for the year to date has returned a superlative 2.8% with returns accelerating over the past two months as rate markets blink and credit spreads tighten into a brightening and anticipatory macro environment. The hunt for yield, buying the kind of risk we think is going to be ‘just fine’ into the financial markets recovery – and which allows us to take advantage of the cheap deals on offer – has made sure that the contingent convertible market has been the year’s most successful area of the corporate bond market. CoCo index returns are at 17% year to date and many will have made 20% or more on their holdings, so far. High yield markets are up 6.6% in the year to end of October. We’re willing the year to end now! And don’t forget, spreads are in record territory for almost all corporate markets and just 5bp away (at B+99bp) for the IG market.

Continue reading

29th October 2017

Show me the money

MARKET CLOSE:
iTraxx Main

51.4bp, -1.4bp

iTraxx X-Over

232.6bp, -4.5bp

10 Yr Bund

0.39%, -4bp

iBoxx Corp IG

B+100.7bp, -1bp

iBoxx Corp HY

B+264.5bp, +1bp

10 Yr US T-Bond

2.42%, -4bp

FTSE 100

,
DAX

,
S&P 500

,

Powering on…

There are just two sessions to go before we close out a super October for the higher-yielding end of the corporate bond market. The Markit iBoxx HY cash index has tightened by 18bp, the CoCo index by 49bp and even the non-financial hybrid index (already extremely rich) is 24bp tighter in the month so far. They’re all at record tight levels for the respective indices.

The better economic backdrop is the driver as it has helped sustain equities at – or even pushed them to setting – record levels. That confidence has filtered through to other risk assets and especially ones more closely correlated with equities. And all that even as the tightening cycle is underway, but because it is so much in its infancy, the credit markets will continue to trade as the ‘go to’ product for yield hungry investors. Monthly and year-to-date excellent total return performance will only serve to suck in more funds to an asset class where, in 2018, ought in no way deliver the kind of performance it has in a stunning 2017.

Continue reading

3rd January 2016

High Yield Bond Issuance Charts | HY Corporate Bonds

The charts and tables below show high yield bond issuance by year as well as by month. This issuance data illustrates the trend in the growth and corporate bond issuance in the euro-denominated bond market. Cumulative 2020 HY issuance data is updated daily for all charts.

i) High Yield Bond Issuance by Year

If you already have a membership, simply log in to view it.

ii) HY Bond Issuance by Month

If you are already a member, please log in to view it.

To view our fully searchable individual HY deal data, click here.


More Charts: Investment Grade Issuance | Senior Financials Issuance

3rd January 2016

Investment Grade Bond Issuance Charts > IG Debt Issuance

The bar graphs below illustrate the growth and trends in issuance in the euro-denominated corporate bond market. The cumulative Investment Grade bond issuance for 2020 is updated daily.

i) IG Bond Issuance by Year

Need to view the table and analysis information for Investment Grade corporate bond issuance from 2003 right through to 2020?

This bond research data is only available to our subscription members.  It’s updated daily and well worth the time that it will save you, so go ahead & sign up: Purchase a membership here to gain full, unfettered access.

If you already have a membership, simply log in to view it.


ii) IG Bond Issuance by Month

Need to view the chart, table and analysis for monthly IG Corp issuance? Of course you do! This bond research data is only available for our happy subscription members.

If you already have a membership, simply login to view it.

All the deals in detail including for July, 2020 can be found here.


iii) US Corporate Borrowers as a % of Total Euro IG Issuance

To see the chart and analysis for US Corporate borrowers in the Euro IG market, sign up as a subscriber.

You can purchase a membership here to gain full access.

If you already have a membership, simply log in to view it.


More Charts: High Yield Issuance | Senior Financials Issuance

31st December 2015

Senior Financials Corporate Bond Issuance

The bar graphs below illustrate the trend in the growth and trends in issuance in the euro-denominated corporate bond market.

i) Senior Financials Issuance Since 2003

To see this up-to-date chart for senior financial issuance, as well as our analysis commentary, you’ll need to a logged-in subscriber.

If you already have a membership, simply log in to view it.


ii) Senior Financials Monthly Supply

If you would like to see the monthly supply chart, join up as a member of the site today.

If you already have a membership, simply log in to view it.

More Charts: Investment Grade Issuance | High Yield Issuance