This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
The Week That Was (13 – 19 May, 2024)
May 20, 2024
US primary markets fell last week, with new deals at $31.6bn vs. $55.7bn seen a week before. IG issuers racked up $26.2bn of the total led by J&J’s $4bn four-trancher and Goldman Sachs’ $3.5bn two-trancher. HY issuers accounted for $5.3bn of the volume with Service Properties’ $1.4bn and Blue Racer Midstream’s $1bn two-tranches each leading the tables. In North America, there were a total of 51 upgrades and 40 downgrades across the three major rating agencies last week. US IG funds saw outflows of $1.04bn for the week ending May 15, reversing inflows of $1.13bn seen the week before this. This was only the second time these funds have seen weekly outflows this year. HY funds saw $770.5mn in inflows during the same period, after investors added $2.35bn into junk bond funds a week prior.
EU Corporate G3 issuances recorded $43.4bn in new deals, higher than the $28.3bn seen in the week prior to it. The largest deals were led by Novo Nordisk’s $4.65bn and MSD Netherland’s $3.4bn four-tranchers each. The region saw 29 upgrades and 26 downgrades each across the three major rating agencies. The GCC dollar primary bond market saw no new deals last week after $2.2bn in issuances a week prior to it. In the Middle East/Africa region, there were 28 upgrades and 6 downgrades across the major rating agencies. LatAm saw $500mn in new deals, lower than the $750mn from a week ago, with a solo issuance by Trident Energy’s $500mn deal. The South American region saw no upgrades and 2 downgrades across the rating agencies
G3 issuance volumes from APAC ex-Japan stood at $4.8bn vs. $8.9bn in the week prior to it. This was led by ICBC’s ~$1.36bn multicurrency two-trancher and ANZ’s €1.5bn issuance. In the APAC region, there was 1 upgrades and 3 downgrades across the three rating agencies last week.
Go back to Latest bond Market News
Related Posts:
The Week That Was – (16th -22nd Aug)
August 23, 2021
The Week That Was (24 – 30 Jan, 2022)
January 31, 2022
The Week That Was (3 – 9, July 2023)
July 10, 2023
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.