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The public sector bond market has had a lot to digest — more than $900bn of benchmark issuance — in 2024 and endured a turbulent second half. But key metrics tracked by GlobalCapital’s Primary Market Monitor suggest it has been a strong year for deal execution, writes Addison Gong

Banks enjoyed a strong start to their 2024 euro funding, securing much needed duration without having to pay eye-watering premiums. But conditions worsened and issuers slunk back down the curve as elections dictated market sentiment, writes Frank Jackman

SSA bond spreads widened dramatically against swaps in the latter part of 2024 and market participants are fearful that this will exert pressure on covered bond issuers next year. But on a positive note, several first-time issuers are anticipated to light up the market, writes Frank Jackman

Loan bankers describe a ‘positive year’ in 2024, with the market ‘buoyant’ after two years lacking momentum, writes Jennifer Law. There was a flurry of activity in the second half of the year prompting expectations of higher volumes to come

The capital markets are finding growing uses for artificial intelligence as language models go from being large and broad, to small and tightly focused. AI has already been deployed to increase administrative efficiency. Automation in trading and execution is next, writes Gaia Freydefont

This was the year of the voter — when a spate of elections around the world threatened market disruption. Investment grade corporate borrowers changed funding plans and prepared to be opportunistic, writes Mike Turner. But the relentless flow of cash into the asset class made it a golden ticket — a trend expected to continue into 2025

Despite a higher volume of euro benchmark bond issuance in 2024 compared to a year earlier, spreads ground tighter all year in the investment grade corporate market, writes Mike Turner, with the average spread over mid-swaps paid by a high grade company down by more than 60%

Central bank interest rates cuts turbocharged the unsecured FIG market in 2024, making for a strong year for bond issuance. With further rate cuts in Europe expected in 2025, Atanas Dinov reveals how market participants expect the year to unfold

Political and economic uncertainty, quantitative tightening and new supply expectations weighed on the SSA sector in 2024, pushing spreads wider versus swaps throughout much of the year. With Donald Trump returning to the White House and questions over France and Germany’s political and economic direction, the coming year is unlikely to be smooth sailing for SSA issuers. To discuss the main trends and developments this year and their expectations for 2025, GlobalCapital convened a roundtable of leading SSA borrowers and an investor involved in this critical market

Although the Swiss franc bond market is on track for its best year since 2014, falling interest rates caused a sharp drop in issuance in the second half of 2024. Widening spreads made the market harder to navigate and, as Sophie Astles writes, the road ahead could be rocky

Sovereign, supranational and agency issuers made a rapid start to funding in 2024, which proved to be a year when being flexible enough to maximise investor demand proved invaluable. Among the best deals this year are some that captured the moment but also some that sought to do something completely new altogether

The higher the yield, the hotter the bid — or at least that is how it appeared for most of the year in the financial institution bond market. Investors latched on to the Greek FIG revival, duration and regulatory capital in a bid to boost their returns, which some issuers exploited deftly