IFR SNAPSHOT - IG issuance expected to be front-loaded ahead of …
WEB2 hours ago · Corporate IG bond issuance this week is also expected to be higher. "After supply disappointed to the downside last week, syndicate desks are expecting $15+bn in IG supply this week," BMO said in a report his morning. "That falls mostly in-line with the historical experience for the first full week of October, which has seen an average of $15 ...
IFR SNAPSHOT - Ahead of Friday jobs report, IG and HY primaries …
WEB4 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
WEB3 days 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 …
IFR SNAPSHOT - IG and HY primaries expect another busy day
WEB5 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 ...
US corporate primaries quiet as jobs report surprises - IFR
WEB3 days 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 ...
New Fortress forces through US$3bn debt, equity recap
WEB3 days ago · In an eventful week, New Fortress Energy secured US$400m from a stock sale ahead of the US market open on Tuesday, announced the launch of a long-delayed project, and completed a controversial US$2.6bn debt recapitalisation. Already the focus of class-action shareholder lawsuits, the liquefied natural gas project developer negotiated terms of the recapitalisation behind closed doors, making ...
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.
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 …
IG bond market cools after fevered issuance pace - IFR
WEBSep 5, 2024 · At least 10 investment-grade bond offerings are slated to price on Thursday, as the market for new issuance from the best-rated corporate credits downshifts after shattering weekly forecasts in just two days.. The investment-grade bond market welcomed 19 offerings on Wednesday with issuers raising …
IFR Awards 2023: The winners | IFR
WEBFeb 2, 2024 · Mess up the resulting handover and things can go wrong very quickly. Morgan Stanley looks to have handled its succession process extremely well while remaining on top of its game. Morgan Stanley is IFR’s Bank of the Year. Articles on the winners of all 110 categories are available here. A …