U.S. Investment-Grade Borrowers Hit $1 Trillion Mark

Analysts expect to see about $200 billion in additional high-grade bond sales over the remainder of the year.

By Tanaz Meghjani | October 13, 2023 at 03:04 PM

Photo: The New York Stock Exchange in New York City, on June 29, 2023. Photographer: Michael Nagle/Bloomberg

Blue-chip bond issuers in the United States aren’t slowing down on borrowing, despite recent increases in funding costs.

Gross new issue in the U.S. investment-grade market surpassed $1 trillion on Wednesday, one week later than in 2022, when issuance hit that milestone during the first week of October. That leaves about $200 billion in new high-grade bond sales to go for the remainder of the year, according to David Del Vecchio, co-head of investment grade research at PGIM Fixed Income.

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