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U.S. High Yield Bond Issuance at 4-Year Low as Market Licks Wounds, Eyes 2016

With only a handful of business days remaining on the calendar and a battered market happy to hit the reset button for the year, high yield bond issuance in the U.S. looks to total $262 billion in 2015, a roughly 16% drop from the $310 billion recorded in 2014, according to S&P Capital IQ LCD.

US high yield bond issuance.JPG

The annual figure is the smallest amount since the $218 billion recorded in 2011.

What type of issuance can market players expect in 2016?

"Prominent bank forecasts for U.S. high-yield new issuance in 2016 range from $200–300 billion," says LCD's Matt Fuller. "This compares to a pro forma domestic and Yankee speculative-grade corporate supply of $262 billion for 2015, which is at the lower end of the $260–340 billion consensus forecast range put forth one year ago." - Staff reports

Check out the full 2016 High Yield Market Outlook. It's free. 

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