US Dollar Credit Supply: Forecasting US$650bn in corp supply in 2024
Supply ended the year in line with expectations. We forecast a year of very similar supply in 2024
Executive summary
2024 supply numbers expected to be similar to 2023
Very much in line with expectations, USD corporate supply ended 2023 at US$647bn, increasing from 2022 but still below the levels for 2019 to 2021. Net Supply in 2023 totalled US$114bn, much lower than previous years with the exception of 2022.
Low net supply in 2023
USD financial supply totalled US$445bn in 2023, significantly lower than the levels seen in 2020 to 2022. Similarly, net supply was a modest US$112bn, more in line with levels of 2019 and before. For 2024, redemptions are due to be more-or-less in line with 2023 at US$337bn.
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