The drought in the primary corporate market continues with just $3 billion of investment-grade and $700 million of high-yield deals coming to market in the last week. This marks the seventh consecutive week where total volume has been less than $10 billion. This week's totals were only bolstered to the degree that they were by $1 billion deals from IBRD and Safeway, but issue sizes away from these deals were so small that the moving average of deal size fell during the week. With August typically the quietest month for debt issuance, a near-term rebound in volumes is not likely.
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