Credit
Reports5 February 2025
US Dollar Credit Supply: Decent start for USD supply
USD supply is off to a relatively strong start to the year. Yankee and Reverse Yankee supply, however, has been underwhelming
Executive summary
Corporate supply is lower than last year, but strong nonetheless
Corporate supply totalled US$53bn in January, lower than the US$74bn pencilled in last year but still above most previous years. After redemptions of just US$24bn, net supply is sitting at US$29bn for the month.
Utility, TMT and Autos are the driving force for supply in January, with US$12bn, US$14bn and US$8bn respectively. Utility supply, in particular, is lower than last year’s US$23bn. Supply continues to be concentrated in the 3-6yr bucket, 9-12yr bucket and very long end.
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This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more