📈US high grade issuance has seen a record start this year, with over $37 billion in sales.
💰Bristol-Myers had a massive bond sale of $13 billion.
🔍Valuations in the high yield market are historically tight.
📉Higher rates could impact credit quality, but high yield duration can provide protection.
📊The maturity wall is seen as an opportunity rather than a threat.
Why is US high grade issuance at a record start this year?
—US high grade issuance has seen a record start this year due to positive macroeconomic conditions.
What was the size of Bristol-Myers' bond sale?
—Bristol-Myers had a massive bond sale of $13 billion.
What is the current state of valuations in the high yield market?
—Valuations in the high yield market are historically tight.
How can high yield duration provide protection?
—High yield duration can provide protection against volatility and massive moves in interest rates.
How is the maturity wall viewed?
—The maturity wall is seen as an opportunity rather than a threat, with potential for refinancing debt.
00:00US high grade issuance has seen a record start this year, with over $37 billion in sales.
12:22Bristol-Myers had a massive bond sale of $13 billion.
13:53Valuations in the high yield market are historically tight.
14:27Higher rates could impact credit quality, but high yield duration can provide protection.
15:22The maturity wall is seen as an opportunity rather than a threat.
