BREAKING: US investment-grade corporate bond sales surged +12% YoY in January, to $208.4 billion, the highest for any January on record.
The only 4 months that saw higher issuance in the past were March, April, and May 2020, and March 2022.
This also marks only the 6th time in history that monthly issuance has exceeded $200 billion.
By comparison, the previous 6-year average for January is $153.5 billion.
As a result, the US is fueling a global debt surge, with total public bond issuance up +11% YoY in January, hitting a record $930 billion.