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 (22 -28 July, 2024)
July 29, 2024
US primary market issuances jumped to $61.4bn last week from $43.6bn in the week prior to it. IG issuers took up $55.1bn of the total, led by Morgan Stanley’s $25bn jumbo issuance followed by United Health’s $12bn eight-tranche issuance. HY issuers accounted for $5.75bn of the volume with Citi’s and Venture Global Partner’s $1.5bn deal each leading the tables. In North America, there were a total of 49 upgrades and 20 downgrades across the three major rating agencies last week. US IG funds saw slight outflows of $34.1mn for the week ending July 24 compared to $1.27bn of inflows seen in the prior week. HY funds saw $1.53bn in inflows, adding to the $2.64bn inflows seen a week before this.
EU Corporate G3 issuances recorded a drop in new deals last week to $5.5bn vs $14.1bn seen in the week prior to it. Banco BPM’s €1bn deal led the tables, followed by $1bn deal by Nationwide Building Society. The region saw 52 upgrades and 24 downgrades across the three major rating agencies. The GCC dollar primary bond market saw $290mn in new deals last week compared to $5.6bn in new issuances in the week prior largely led by Qatar International Islamic Bank’s $250mn deal. In the Middle East/Africa region, there were 6 upgrades and 6 downgrades across the major rating agencies. LatAm saw issuance volumes of $933.6mn vs. $747mn a week prior, led by Empresa Nacional’s $600mn and Caja De Compensacion’s $300mn deals. The South American region saw 5 upgrades and 1 downgrade across the rating agencies.
G3 issuance volumes from APAC ex-Japan stood at $3.6bn vs. $5.3bn in the week prior to it. Zhongsheng Group’s $600mn deal led the tables followed by Bank of Communication’s $550mn deal. The week also saw $500mn issuance by Korea Electric Power, along with $400mn deal by Mirae Asset and $300mn deal by Piramal Enterprises. In the APAC region, there were 6 upgrades and 6 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 (14 – 20 Feb, 2022)
February 21, 2022
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.