Posted To: MBS Commentary
The past 2 sessions only look boring on the surface Beneath the surface, bonds have been coping with a huge glut of corporate issuance What does it all mean? If you’re anything like me, you shut down mentally every time I reference something like corporate issuance. Either that, or I’ve done a decent enough job explaining it in the past that you “get it.” If so, feel free to skip ahead. Corporate Issuance Refresher Companies issue debt. The bigger the company, the bigger the debt they might issue, depending on the sector. Some of the biggest corporate bonds over the past few years have been from well known firms such as Verizon and Apple. Other large issuances have come from names many of us have never heard, like AbbVie, which has launched several deals over $10bln (a huge…(read more )