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Bond Market News
Bonds of US Retailers like Macy’s, Kohl’s Drop Over 4 Points
April 4, 2025
US retailers’ bonds including the likes of Macy’s, Staples and Kohls fell by over ~4 points across their curves. This comes amid the broader selloff in junk bonds, especially ones which are highly reliant on imports and discretionary consumer spending. The introduction of new tariffs saw bonds across these sectors move lower. Companies like Wayfair and Staples, are known to have a higher dependency on imported goods, making them vulnerable to such policy changes. Additionally, companies like Macy’s have been actively engaging in debt restructuring efforts. Kohl’s bonds have been trending lower since early March after forecasting a larger than expected drop in annual sales. Also, Kohl’s and Macy’s have announced store closures in recent times.
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