Already elevated, US corporate bond issuance has gotten a new lease on life, thanks to the Fed, which acted because credit markets were seizing up. Longer term, this ensures leverage continues higher. When it is all said and done, there … Continued
In the first eight months, US corporate bond issuance remained soft – relatively. This is not due a sudden rise in risk-off sentiment toward corporate bonds. They remain well bid. Rather, reduced corporate buybacks for the most part may have … Continued
US companies are sitting on tons of cash, and are also spending tons in dividends and buybacks. As they continue to pay back shareholders, debt load – rising – moves front and center. S&P 500 buybacks shot up to new … Continued