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    US investment grade (IG) borrowers printed close to $150bn in August, surpassing the $136bn record set in August 2020 and making this the third consecutive month to set an all-time high after June and July. Against a seasonal average of roughly $95bn since 2019, that is about 50% above the norm despite the August holiday season being in full swing.

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Private Markets

Is private credit a bond market problem?
Apr 20 2026 Market Update

Is private credit a bond market problem?

Negative headlines around private credit have intensified this year, driven by the AI-related software sell-off and the news that most players have restricted withdrawals from retail private credit funds.

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