IFR SNAPSHOT - Ahead of Friday jobs report, IG and HY primaries …
WEB2 days ago · The average IG bond spread edged in 1bp to 91bp on Wednesday and the HY bond spread narrowed by 1bp to 306bp, according to ICE BofA data. "High grade spreads narrowed 1-2bp yesterday and now sit 1bp narrower on the week," BMO said. "With yesterday’s narrowing, spreads are now at their tightest …
Portfolio trading surges – and heads multi-asset | IFR
WEB1 day ago · View now. Portfolio trading surges – and heads multi-asset. US portfolio trading volumes have more than doubled this year as the rapid electronification of corporate bond markets is encouraging more investors to buy and sell large blocks of bonds in one go. There were US$802bn of portfolio trades in US corporate bond markets in the first nine ...
US corporate primaries quiet as jobs report surprises - IFR
WEB1 day ago · John Doran. The US investment-grade and high-yield primaries are quiet on Friday as headlines from a surprisingly strong September jobs report dominate markets. September's employment report of 254,000 jobs created far outpaced the 150,000 consensus and 159,000 jobs in August, BMO said in a report today, adding that this is the highest since ...
IFR SNAPSHOT - IG and HY primaries expect another busy day
WEB3 days ago · In the IG primary on Tuesday, five issues were priced in 10 tranches totaling US$9bn to kick off the month of October and lift weekly supply to US$11.35bn, according to IFR data. The average new issue concession was 3.0bp and the average order book was 3.54x subscribed, according to the data. The average move from initial price thoughts to ...
IFR SNAPSHOT - Busiest September ever for IG winds down
WEB5 days ago · For the week, 54 tranches were priced totaling US$41.22bn and September volume so far stands at 224 tranches totaling US$176.92bn, making it the busiest September ever for IG issuance recorded, according to IFR data. That number does not include any offerings to be priced today, the last day of the month. September 2020 was the previous record ...
IFR SNAPSHOT - Issues roll out into IG and HY primaries
WEBSep 24, 2024 · On Monday 12 IG offerings were priced totaling US$13.35bn, lifting September issuance to US$149.150bn, according to IFR data. The average new issue concession for the issues was 0.64bp and the average order book was 3.99x covered, according to the data. The average move from initial price …
IFR SNAPSHOT - The HY primary active while IG sits one out
WEBSep 27, 2024 · In the IG primary yesterday four offerings were priced totaling US$7.45bn, pushing weekly volume to US$41.22bn, which exceeded syndicate supply forecasts for the week, and September issuance to US$176.92bn, according to IFR data. The average new IG issue concession was 1bp and the order book coverage was 4.64x subscribed, according to the data.
IFR SNAPSHOT - IG primary quiet while HY still busy
WEBSep 20, 2024 · The US investment-grade primary is taking a breather today after a week that included the Federal Reserve's first fed funds rate cut in four years, while the HY primary is active with two offerings. The larger-than-expected 50bp reduction on Wednesday triggered a US stocks rally that saw the S&P set a record on Thursday.
IFR SNAPSHOT - Seven IG issuers prepare bonds as dealmakers …
WEBSep 9, 2024 · They raised US$7.615bn last week, though no trades printed on Friday, IFR data show. High-yield issuers have priced US$201.95bn of bonds in the US market so far this year, more than the approximately US$174bn issued during all of 2023. The average IG bond spread was unchanged for the third day in a …
IG issuers return in full after Tuesday's record session - IFRe
WEBSep 4, 2024 · IFR SNAPSHOT - IG issuers return in full after Tuesday's record session. At least 18 IG issuers are slated to price deals today, after borrowers flooded the market on Tuesday with 29 deals – the most ever in a single day. Borrowers easily exceeded the previous record of 23 deals set on September 3 2019 and then repeated on September 7 …