Investors See $20 Billion of High-Grade Bond Supply on Tap
- High-yield bond investors await jumbo Medline buyout deal
- Strategists see high-grade and junk spreads heading wider
Photographer: Witthaya Prasongsin/Moment/Getty Images
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Wall Street syndicate desks are expecting around $20 billion of investment-grade bond supply next week, according to an informal survey of debt underwriters.
That figure would be enough to surpass dealers’ September issuance estimates of around $140 billion. Sales volume wavered after a record-setting week early in the month. This week saw two different days with no issuance, as the China Evergrande Group debt crisis and FOMC meeting led to uncertain conditions for offerings on Monday and Wednesday.