With a further $4 billion of investment-grade deals being launched this week, the primary market continues to print at a much healthier pace than was seen during October. Month-to-date volume of over $12 billion puts us well on target to print $25-30 billion before the quieter holiday period descends. The high-yield sector has also seen good volumes with $1.5 billion issued this week. The four-week moving average deal size is creeping up from the lows as the week saw the launch of three billion dollar deals and the increase in risk appetite is also evident in the average rating falling back toward the single-A level.
Analysis by CreditSights, Inc., an independent online credit research platform. Call (212) 340-3888 or visit www.CreditSights.com for more information.