• The U.S. corporate bond market is set to break new issuance records as borrowers take advantage of lower financing costs than last year and investors, emboldened by the prospect of an economic “soft landing,” pile into the asset class.
  • Issuance of bonds by companies rated investment-grade surged above $196 billion last month, making it the busiest January on record. This record issuance may be repeated this month, with BofA Global estimating nearly $160 billion to $170 billion in just investment-grade rated bond supply, which would make it the busiest February ever.
  • Such back-to-back record months at the start of the year are unusual even for the prolific investment grade market, which is expected to see nearly $1.3 trillion of bond issuance this year.