The Highs and Lows of the High Yield Market
Making Sense
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Introduction
Brian Tramatose, head of North American Leverage Finance Capital Markets, to discuss the latest trends we are now seeing in the high yield market. In 2022, high yield primary activity started out strongly, but slowed midway through the first quarter following the outbreak of the Russia-Ukraine geopolitical conflict and rising rates. By this same time last year, the market only priced 55 billion of bonds,. 44% of which priced in January. During the remainder of 2022, only another $42 billion priced. That made 2022 the slowest high yield market year since 2008. Start 2023, the highield market has seen 70 billion in primary issuance, up 27%. Amidst a volatile economic backdrop,
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