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Piper Sandler

June 1, 2026

Debt Capital Markets Update

Weekly UpdateRates CreditRates Govt BondsFinancialsEnergy

The Piper Sandler report details a busy week in debt markets with $14.3 billion in combined HY bond and leveraged loan volume. While HY bond yields tightened significantly by 29 bps, both asset classes continue to see fund outflows.

Key Takeaways

  • 1.High-yield bond yields for B2/B rated issues saw a significant weekly decrease of 29 bps, ending at 6.44%.
  • 2.Investment Grade bond volume shows robust year-over-year growth, up 31% in dollar terms compared to 2025 YTD.
  • 3.Both loan and high-yield funds experienced continued outflows this week, contributing to YTD outflows of $4.2 billion and $5.0 billion respectively.

Table of Contents

  • Loan & Bond Yields and Volume
  • DEBT CAPITAL MARKETS CONTACTS
  • Market Commentary
  • New High Yield Bond Issues (1)
  • New Leveraged Loan Launches (1)
  • New Investment Grade Bond Issues (1)
  • Total Debt Volume
  • Benchmark Yields

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Authors

Len SheerAmrit AgrawalJames Chiarelli

Securities

GSBORRMCK10 yr UST

Themes

Divergence between Bond and Loan VolumesTightening High-Yield Spreads

Regions

North AmericaUnited StatesCanadaAustralia