Investment Grade Corporate Bond Sales Hit 17-Week High

On Sunday, I noted that the first week of January was a blockbuster for corporate bond sales. Indeed, nearly a dozen firms sold roughly $20 billion in debt in the US last Tuesday alone — the most ever for the first day of the year. I also highlighted the rosy outlook for IG on the heels of record supply in 2016, before touching on the surge in reverse-Yankee deals which hit an all-time high of €94 billion last year even as the rising cost of dollar hedging made for choppy issuance. But as