Bond issuance volumes have picked up in the early months of this year, as borrowers have capitalized on low volatility and interest rates. Issuance has reached some $950 billion year to date, 5% up on the same period last year. Of particular interest are bonds from Asian high-yield issuers (with credit ratings below BBB or Baa), which account for over $6.2 billion in offshore debt year to date. This is over four times the total amount issued in 2016 whereas the broader high-yield segment rose 66% year on year.
Standard Chartered,
March 10, 2017