"It was when the booming if somewhat dented US bond markets took a broadside: Issuance of investment-grade bonds had seized up for the seven trading days in a row prior to Tuesday! In the junk-bond market, no new issuance made it to market at all this week, the first non-holiday week with zero issuance since July 2013, the peak of the Taper Tantrum. And in the prior week, only two deals for a measly total of $1 billion were priced. For all practical purposes, the primary junk-bond market has seized up." "{...} eager issuers put deals on the “shadow calendar, with timing “still uncertain.”.”
http://wolfstreet.com/2015/07/10/junk-bonds-issuance-seizes-mauled-by-china-greece-puerto-rico-commodities/But despite “the crush in commodities prices and other headwinds this week,” the secondary high-yield market, where already issued junk bonds are trading, “held up fairly well.” But new pressures have been building up:
