Corporate bond market set for record year – but also dangerous and dysfunctional – City AM
2020 is going to be a banner year for the corporate bond market. The volume of premium new issues in the first half of the year exceeded $ 2.5 trillion. Records are also broken for high yield junk debt, despite a rise in the corporate default rate.
Last week, the U.S. primary market broke $ 1.3 trillion in new debt, beating issuance for all of 2017, the previous record year. The busiest…