High-Grade Bond Issuers Line Up $35 Billion as Virus Fears Flare
- Companies still need to borrow before December lull: Barclays
- Primary market is ‘sloppy,’ needs a breather: BMO’s Kimball
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Blue-chip companies are expected to storm primary markets next week before sales taper in a typical December lull even as investors focus on a new coronavirus variant that sparked a global rout on Friday.
Wall Street syndicate desks are projecting about $35 billion of new investment-grade issuance next week and approximately $55 billion for December. Corporate credit joined the global markets selloff on Friday, with cruise lines, car renters and movie theaters bearing the brunt as virus mutation fears zoomed into focus.