{"id":22112,"date":"2025-04-04T14:20:56","date_gmt":"2025-04-04T13:20:56","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=22112"},"modified":"2025-04-04T14:20:56","modified_gmt":"2025-04-04T13:20:56","slug":"investment-grade-bonds-supportive-technicals","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/investment-grade-bonds-supportive-technicals\/","title":{"rendered":"Investment grade bonds: supportive technicals"},"content":{"rendered":"

Chart of the Week<\/h2>\n

The euro investment grade primary market has been particularly upbeat so far this year. Excluding financial institutions and property companies, year-to-date gross corporate issuance at the end of March stood at \u20ac97 billion, according to Barclays data.<\/p>\n

In terms of net issuance, which is new bonds being issued minus those being redeemed, corporate investment grade volumes were slightly negative over the same period at -\u20ac8 billion. This compares with \u20ac41 billion in the first quarter of 2024. Net supply has been distinctly positive in recent years, barring 2022 when high volatility and fears stemming from rising interest rates unsettled investors and firms alike.<\/p>\n

\"\"<\/p>\n

OUR <\/b>ANALYSIS<\/b><\/h3>\n

These technical factors are providing a supportive backdrop for corporate investment grade. Issuers are mainly refinancing maturing debt, without investors having to absorb net new issuance.<\/p>\n

Meanwhile, demand remains healthy. According to JP Morgan, investment-grade net inflows totalled around \u20ac7 billion in the first quarter for funds and ETFs.<\/p>\n

***<\/p>\n

Written on 4 April 2025. This is not an investment advice. Opinions subject to change.<\/p>\n

See also: https:\/\/latribune.lazardfreresgestion.fr\/en\/european-equities-regain-their-footing\/<\/a><\/p>\n

This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"

Chart of the Week The euro investment grade primary market has been particularly upbeat so far this year. Excluding financial… <\/p>\n","protected":false},"author":101016,"featured_media":22110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[2516],"class_list":["post-22112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-fixed-income-market"],"yoast_head":"\nInvestment grade bonds: supportive technicals<\/title>\n<meta name=\"description\" content=\"The euro investment grade primary market has been particularly upbeat so far this year. 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