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Episode 32: Investment Grade Market Dynamics

Guggenheim Macro Markets

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The Impact of the Big Six Banks on Corporate Issuer Supply

The big six banks as they're known, and that's Bank of America, JP Morgan, Wells Fargo City, Morgan Stanley and Goldman, the big six had really impacted overall supply quite a bit. $87 billion matured in the first quarter for the big six, and another $10 billion is set to mature in the second quarter here of 2023. And I think expectations entering into 2023 were for around 100 billion issuance from these big six banks for the total of the year. But what we saw in January is really so far, we've only seen about 11 billion in issuance from those big six banks.

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