High-Grade Monthly: Record run stumbles on war footing as spreads rise

Spiraling events in the Middle East have forced investment-grade debt issuers into safe harbors, throwing a record run for dealmaking through February off stride. That’s as corporate funding spreads over Treasuries — a propellant for IG through strong headwinds last year — indicate faltering risk sentiment, just as M&A and growth capital spending face critical tests of market demand. March volume projections ranged from $180-250 billion, for an average estimate of $211 billion. That’s not unprec