Debtwire Middle-Market – 6/13/2022

High-yield bond primary issuance returns
in June after vanishing in May


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Source: Markit, BofA US HY Index

As equity markets plunged into free-fall at the start of May, high-yield (HY) bond issuance came to a shuddering halt. The whirlwind of macroeconomic headwinds buffeting financial markets appeared set to remain, causing panic among investors. With inflation remaining stubbornly high, more aggressive interest-rate hikes expected from the Fed, and disappointing earnings data pouring in from retailers amid rising consumer prices, the challenges abound.