Global Slowdown Fuelling Bond Market Boom

Despite the recent resurgence in risk appetite, on the back of a sustained rally in equities throughout the month of July, corporate bond markets continue to outperform. It seems falling high-yield spreads are spurring debt issuance. The average spread for high-yield offerings declined 19% from June's average, bringing the volume of US high-yield offerings up 93% from June and to the highest level since April, according to Thomson Reuters.

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