Market shifts to 1% LIBOR floors
as key rates remain near zero
Source: Debtwire Par
With the Federal Reserve cutting interest rates sharply in March, investors have preferred fixed-rate debt instruments in the last several months, as demonstrated by the recent proliferation of high yield bonds. High yield bond issuance soared in 2Q20, with June deal flow of USD 63.7bn setting a new monthly record and pushing 2Q20 volumes to USD 150bn.