Bank of America
June 3, 2026
Situation Room: May The Deals Be With You
Daily UpdateRates CreditMacro Economic IndicatorsHealth CareConsumer Staples
North American M&A activity surged to $315bn in May, leaving a $448bn pipeline of pending deals with significant funding implications for the US Investment Grade bond market.
Key Takeaways
- 1.North American M&A announcements rose to $315bn in May, up from $286bn in April.
- 2.The pipeline of announced deals with potential Investment Grade (IG) funding implications remains near a multi-year high at $448bn.
- 3.Healthcare, Food & Beverage, and Media sectors are expected to lead the upcoming $172bn bond funding pipeline.
Table of Contents
- May the deals be with you
- Elevated deal pipeline
- Issuance implications
- Pipeline of M&A deals with IG issuance implications
- Daily supply snapshot
- Daily dealer inventories update
- Daily HG fund flows
- Daily foreign demand tracker
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Authors
Yuri SeligerSohyun Marie Lee
Securities
PSKYWBDUNPNSCKMBLLY
Themes
Elevated M&A Deal PipelineInvestment Grade Supply PressureNegative Dealer Inventories
Regions
North AmericaUnited States