Top Wall Street Banks Set to Give Sleepy Bond Market a Boost
- JPMorgan sees big banks issuing $28 billion to $32 billion
- Citi, Wells Fargo and JPMorgan report earnings on Friday
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A deluge of fresh bank bonds is poised to sweep corporate debt markets, with some on Wall Street anticipating an uptick in sales as regulators weigh tougher regulatory standards.
The six biggest banks in the US are expected to sell between $28 billion and $32 billion of new bonds after they report quarterly earnings, according to JPMorgan Chase & Co. Regional banks, meanwhile, may eventually have to issue some $168 billion of holding-company debt to meet higher capital requirements, Bloomberg Intelligence said.