US DOLLARS

摘要

Investment-grade new-issue volumes are expected to peter out in the next couple of weeks, and bankers are hoping that the pause will stem the widening in spreads seen over the past few weeks. Last week there was around US$25bn in supply, much of that driven by financials. While most deals saw a fairly decent reception, heightened volatility meant that some had to pay double-digit new-issue concessions on smaller book sizes. "The underlying tone is very cautious," said one syndicate banker. "You cannot throw anything into this market and expect it to get done."