By Matt Tracy
(Reuters) – U.S. banks are expected to dominate corporate bond issuance following several major players’ earnings on Friday and early next week, according to bond investors and analysts.
January has historically served as the largest bond issuing month for banks when compared to the rest of the year. The last seven Januarys saw an average $22.58 billion in issuance from the “Big Six” banks, according to Informa Global Markets data.
“Bank issuance will likely be the main driver for primary volumes in the latter half of this week and all of next week as the sector clears earnings and the issuance window opens up for them,” said Blair Shwedo, head of fixed income sales and trading at US Bank.
On Friday, a long list of global systemically important banks (GSIBs) including Bank of America, BNY Mellon, Citigroup, JPMorgan and Wells Fargo will report fourth quarter earnings. Goldman Sachs and Morgan Stanley report the following…
