High yield bond market activity cools in January as demand wanes
Source: Debtwire Par
The high-yield (HY) bond market has seen a muted start to the new year, with issuance of USD 16.9bn across 24 deals in January. While this represents an improvement over the December 2021 trough of only USD 9.3bn, the two-month span marks the lowest level of issuance since the coronavirus (COVID-19) pandemic largely shut down the market in March 2020, spurring the Federal Reserve’s bond-buying program, which helped to drive record issuance thereafter.
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