Corporate bonds in the U.S. have seen slow times. Companies have been issuing less debt, with investment-grade bond issuance off by 18% year over year, according to Barron’s. High-yield bond offerings are down 25%.
Blame a number of factors: rising interest rates that have driven down prices as investors look for better deals, and also the continued availability of fairly cheap money for corporations. There’s just been less motivation for companies to issue bonds.