Volumes in US dollar-denominated investment-grade debt could reach $100 billion in May, putting 2011 on track to beat 2010 and 2009, says Peter Aherne, head of North American capital markets and syndicate at Citi. Both January and March this year saw issuance of more than $100 billion, according to Dealogic. As of May 3, $347 billion had been issued year-to-date versus $787 billion in all of 2010.
Some of the rush can be explained by issuers trying to get ahead of interest rate rises expected later the year.
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