Situation Room IG July Supply Forecast

BofA projects $130bn of US IG bond supply for July 2026, easing from June's $201bn. The decline reflects expectations of reduced bank and hyperscaler issuance following significant year-to-date activity.

Key Takeaways

• 1.BofA projects $130bn in US Investment Grade (IG) bond supply for July 2026, a decline from the $201bn recorded in June.
• 2.June IG issuance was bolstered by strong momentum, but forward outlooks suggest lower supply due to front-loaded issuance from banks and hyperscalers.
• 3.IG index technicals are expected to improve, with projected net supply (less coupon income) dropping to -$17bn in July from +$63bn in June.

Table of Contents

• IG July supply: $130bn
• Many moving parts
• Daily supply snapshot
• Daily dealer inventories update
• Daily HG fund flows
• Daily foreign demand tracker
• Important Disclosures

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