Corporate bond trading trails issuance surge by 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 grew just 14.4% to $68.1 billion. If new supply outpaces the market's ability to trade it, investors may face wider bid-ask spreads (the gap between buy and sell prices) and thinner liquidity for large trades.