Operating at the Intersection of Technology and the Capital Markets
Tag: High Yield issuance
Could the NASDAQ re-test the COVID lows of March 2020 when it sat around 6,900? Yes. That would require a prolonged recession (which we expect) AND The Fed not restarting its ultra-dovish monetary policy of Quantitative Easing combined with a near zero Fed Funds Rate. Who knows how the Fed will behave in 2H 2023 … Continue reading The NASDAQ Could Re-Test COVID Lows & The Rise of High Yield
Global High Yield bond issuance from January 1st through May 23rd is at a 13-year low as investors have less appetite for risk in the absence of the Fed put. Global High Yield bond issuance totalled $90 billion between January 1st and May 23 of this year. This is the lowest issuance level during that … Continue reading High Yield Bond Issuance At 13 Year Low
High Yield bond issuance has benefited greatly from the near zero interest rate environment. The Federal Reserve has played an increasingly larger role in the capital markets since 2009 with its extreme low interest rate and expansionary monetary policies. Q2'20 High Yield bond issuance of $125.4 billion was up 88% sequentially from $66.7 billion in … Continue reading The Quixotic Pursuit of Yield
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