Market Morsels: Corporate Bond Issuance

By Joseph Calhoun of Alhambra Investments

CEO of Alhambra Investment Partners • Jan 30, 2024 at 11:00 AM EST

Corporate bond issuance in January is at $176 billion with a few days to go. That’s an all-time record for January and higher than any month last year.

Corporate bond issuance in January is at $176 billion with a few days to go. That’s an all-time record for January and higher than any month last year. Last year’s issuance was up 5.5% over the previous year.

Net percentage of banks tightening lending standards appears to have peaked and rolled over. As I’ve noted about a few other items, this looks a lot like what happens after a recession, not before.

(Click on image to enlarge)

There are still a few areas where lending standards are not falling:

1. Auto loans – flat

2. Consumer loans ex – auto and credit cards – still rising

3. CRE secured by multi-family real estate – flat to rising

More By This Author:

Weekly Market Pulse: Surprises
Weekly Market Pulse: Is The Recession Finally Here?
Market Pulse: Presidential Portfolios

Disclosure:

This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. Investments involve risk and you can lose money. Past investing and economic performance is not indicative of future performance. Alhambra Investment Partners, LLC expressly disclaims all liability in respect to actions taken based on all of the information in this writing. If an investor does not understand the risks associated with certain securities, he/she should seek the advice of an independent adviser.

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