Barclays Graper Says Investment Grade Issuance Is Firing on All Cylinders

The transcript discusses a record period for debt issuance, highlighting the role of the Federal Reserve in stabilizing the market without direct bond purchases. The Fed's introduction of credit facilities has eased refinancing risks and boosted market confidence. Spread compression has led to repeat issuance by major companies. Speculation surrounds when the Fed will start buying bonds, with potential implications for market transparency and economic stability. Expectations are high for future issuance volumes, with the possibility of reaching a trillion in issuance this year.

What factors contributed to the record issuance in March and April?

How has the Fed's intervention impacted the market according to the text?

What does the term 'fallen angels' refer to in the context of the Fed's bond purchasing program?

Discuss the significance of the $750 billion buying power mentioned in the text.

What are the potential risks associated with the Fed's market interventions?

How do the current issuance volumes compare to those in the pre-COVID era?

What implications might arise if the Fed begins to withdraw its support from the market?