Addison Gong

1 week ago | globalcapital.com | Addison Gong

On a summer day in August 2011, three of S&P’s sovereign rating analysts were about to reveal one of the most important decisions in their professional careers — downgrading the US to an AA+ rating from AAA for the first time. They made their decision even though they believed it was likely to widen division in the country and only add to the fiscal and economic challenges facing the country at the time.

1 week ago | globalcapital.com | Addison Gong

Over the first five months of 2025, supranational, sovereign and agency bond issuers raised nearly $660bn-equivalent from benchmark issues in core currencies, 6% higher than a year ago, according to data from GlobalCapital’s Primary Market Monitor. While borrowing more, these issuers also funded shorter. The average tenor of their benchmark issues in the first five months of 2025 was 8.3 years, versus 8.9 during the same period last year.

1 week ago | globalcapital.com | Addison Gong

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2 weeks ago | globalcapital.com | Addison Gong

Across different asset classes, issuers were this week able to bring large and tightly priced new bonds, breaking records along the way. It is a booming market everywhere you look, which is a problem if you look too hard. It is not only highly rated senior bonds that are gaining traction. Capital instruments — typically considered as riskier investments for their subordinated nature — from corporates and financial institutions to multilateral development banks, were also hotly pursued by investors.

2 weeks ago | globalcapital.com | Elias Wilson |Addison Gong

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