IGM | Informa Global Markets

🚨 The US high-grade bond market just had its most explosive year ever – but what's coming in 2026? Join Scott Schulte (Global Co-Head of Investment Grade Debt Syndicate, Barclays) and Shankar Ramakrishnan (Head of U.S. Credit and Global Market Engagement, Informa) as they break down 2025's record volumes and reveal what's next for 2026. 📅 December 3rd  🕛 12:00 ET In 15 minutes, gain:     ⮕ Strategic insights for 2026 market navigation   ⮕ Data-driven forecasts and timing intel   ⮕ Actionable spread movement opportunities Register for the webinar ⮞ https://lnkd.in/eAHE_dr4 #IGM #Barclays #BondMarkets #FixedIncome #2026Outlook #InvestmentGrade #Webinar

Things That Stick Out: Monday Morning Meeting Stocks seeing some follow-through buying behind NY Fed President Williams’s support for a December rate cut on Friday. See:Things That Stick Out: December Rate Cut Now Favored After Williams Comments Based on recent public statements, the (voting) FOMC board appears evenly split. The reason that odds for a cut trade at 70% is because investors assume Williams speaks for Powell, and that the Fed chair will be able to craft a consensus. However, with the pre-FOMC blackout set for Saturday, watch for headlines this week as members look to get their opinions on the record. Treasury yields are testing the lows of the month as more people connect the dots between the rug pull in crypto and declining global liquidity and macroeconomic activity. The same concern has the dollar pressed against recent highs. Stay nimble. Despite the change in Fed sentiment, it doesn’t feel like we should be chasing the upside in equities here. More later. See original IGM post here: https://lnkd.in/eMqhWMXq IGM | Informa Global Markets #economy #federalreserve #interestrates #Powell #Treasuries #dollar #equities #financialmarkets

This week showcased a stark contrast in bond market activity: investment-grade issuers capitalized on strong demand with $47.6bn in supply (crushing the $30bn estimate), while high-yield markets maintained a cautious $6.4bn pace, moving like a 'tractor in low gear.'"   IG Highlights: ✅ Amazon's blockbuster return after 2+ years - $15bn six-part deal with nearly $80bn in demand  ✅ November volume hit $136bn, surpassing monthly estimates  ✅ Strong investor appetite despite heavy supply and macro volatility  ✅ New issue concessions tightened to 2.71bp   Read the full IG weekly wrap-up by Robert Martin here: https://lnkd.in/e8wNYXan   HY Reality Check: 📊 Spreads widened +12bps for the week, +25bps month-to-date  📊 CCC credits underperforming, wider by +18bps  📊 Market sentiment remains "calculated and in the moment"  📊 Taking cues from equity volatility and Fed uncertainty   Read the weekly HY report by Peter Knapp here: https://lnkd.in/eMd3-TZF   As we head into Thanksgiving week with expected lighter volumes, the divergence between these markets tells the story of where investor confidence sits right now.   Not subscribed? Sign up for your free trial now: https://lnkd.in/dRvs8vDK   #IGM #Informa #BondMarkets #InvestmentGrade #HighYield #FixedIncome #CapitalMarkets

Things That Stick Out: Wednesday Morning Meeting Stocks higher early Wednesday after an earnings beat from Lowe’s helped arrest a four-day slide. The retailer noted an uptick in activity in November, raising revenue guidance and offering a bright spot amid recent worries over consumer spending. Nvidia reports after the close. With all the hyperscaler commitments, expectations are high. However, even if they clear the bar, valuations in the sector are being repriced lower as the surge in corporate bond issuance infers a broadly higher cost of capital for AI infrastructure spending. Treasuries have a small bid behind the 2+% drop in oil prices. The Saudi Crown Prince was honored at a White House state dinner last night. Just saying. The dollar is higher again, led by declines in the Swiss franc and Japanese yen. No mystery after both countries reported negative GDP numbers this week. Hearing this a lot: ‘I can’t get short yen because Japanese rates are rising.’ Welcome to the proverbial wall of worry. In Asia, we’ve got our eyes on China since last week’s soft export data and amid reports of a decline in fiscal spending. Last night, property stocks broke hard, and the Chinese 10-year bond yield dipped below its Japanese counterpart for the first time. Not good for an already wobbly state of global macro. More later. See original IGM post here: https://lnkd.in/eXy7Zmzw IGM | Informa Global Markets #economy #mag7 #oil #yen #Japan #China #interestrates #bonds #financialmarkets #NVDA #LOW

What an incredible evening we had on October 23rd at 3 West Club! Our Women in Debt Capital Markets networking event brought together inspiring leaders for powerful conversations about professional advancement in our industry.   We heard authentic stories from our leadership panel about navigating careers in debt capital markets, building meaningful networks, and creating pathways for the next generation of women in finance.   From candid discussions on overcoming challenges to practical advice on plotting your professional growth - every moment was designed to empower and connect our community.   Huge thanks to Phoebe Caneda-Kolman, Kaitlin Howard, Katie Karoll Lavino, Kerrin Black, Zara Kwan, Jessica Lehmann, Eva Bobb-Compton & Julie Caldwell who shared their wisdom and made this evening a huge success!   If you missed it or want to find out more, click here: https://lnkd.in/g_z9JGwR

The DXY has made a semi-surprising move back above the 100.00 psychological level - but is this the sustained breakout traders have been waiting for?   Our latest long-term FX forecasts reveal some interesting dynamics at play. The dollar's strength story isn't just about Fed policy anymore, while sterling faces mounting pressure from multiple fronts ahead of a crucial November 26 deadline.   Meanwhile, concerns are emerging about the US labor market that could reshape the entire narrative...   Read the November FX update by Tony Nyman: https://lnkd.in/evGsHXkk Not subscribed? Sign up for your free trial now: https://lnkd.in/ec9jkafZ   #Informa #IGM #LongtermFXForecasts #USD #EUR #YEN #GBP #CHF #CAD #Trump #Tariffs #Fed #Politics #dedollarization #fiscalworries #USShutdown

While markets navigated trade tensions, rate uncertainty, and political shifts throughout October, European structured finance delivered its strongest month since the global financial crisis.   A remarkable 67 deals priced across all asset classes for €30.6bn - with euro CLOs leading the charge at over half the total volume. The new issue CLO market has now surpassed €52bn year-to-date, with total CLO activity (including resets and refinancing) exceeding €103bn.   Beyond CLOs, we saw the busiest RMBS month of 2025 with 12 deals, while auto ABS, consumer loan ABS, and CMBS all hit multi-year highs.   Proof that strong fundamentals and investor appetite can power through macro headwinds when the underlying credit stories remain compelling.   Read the full structured finance report by Anil Mayre here > https://lnkd.in/eArwE9nB Not subscribed? Sign up for your free trial now: ⁠⁠https://lnkd.in/ec9jkafZ   #IGM #Informa #StructuredFinance #CLO #ABS #RMBS #CMBS #EuropeanMarkets #CapitalMarkets

€33.25bn flooded the EUR investment grade market as companies emerged from earnings blackouts - making this the second largest week on record.   The story was all about US companies tapping European investors. American issuers dominated with €19.2bn of the total, led by Alphabet's massive €6.25bn deal and a €5bn transaction from Bristol-Myers Squibb. In Europe, Orange also went big with a EUR5bn five-part.   Investor appetite remained incredibly strong despite the heavy supply, with combined order books topping €100bn. Meanwhile, sterling markets also had their biggest week of the year at £2.895bn.   A clear sign that corporate funding markets are firing on all cylinders as we head into year-end.   Read the full weekly report by Matthew Barrett here: ⁠https://lnkd.in/emYE-33b Not subscribed? Sign up for your free trial now: ⁠https://lnkd.in/ec9jkafZ   #IGM #Informa #Credit #EUR #Europe #Report #Viewpoint

Major American names are stampeding into euro-denominated debt this week - Verizon and Booking Holdings the latest to follow Alphabet and Colgate-Palmolive's lead.   Why the rush?   • €78.61bn in US euro issuance YTD (approaching 2019's €99bn record)  • Attractive basis swap rates making currency hedging cheaper  • ECB's aggressive rate cuts creating a funding arbitrage opportunity   The math speaks volumes: Alphabet's recent €1.25bn 40-year bonds priced at 4.375% while their shorter 30-year USD bonds cost 5.45%.   Is this tactical opportunism or the start of a structural funding shift?   Read the full version by Matthew Barrett > https://lnkd.in/d2JbXMzb Not subscribed? Start your free trial now > https://lnkd.in/eYAUknMF #IGM #Informa #americas #commentary #corporates #credit #eur #europe