Corporate bond trading volume lags issuance surge by nearly 13 points

SIFMA data through July 2026 shows US corporate bond issuance jumped 26.9% year-over-year to $1.681 trillion, while average daily secondary trading volume grew just 14.4% to $68.1 billion. That gap matters: if new supply outpaces the market's ability to trade it efficiently, investors may face wider bid-ask spreads and thinner block-trade liquidity.