Wall Street Banks Forecast Record $30 Billion Bond Sales in January
• Wall Street banks expected to sell $30-$34 billion in new bonds in January, well above historical average of $26 billion • Banks issuing more debt to refinance maturing bonds and meet regulatory requirements • JPMorgan, Bank of America, Citi, and Wells Fargo likely among first to issue new debt after earnings • Six largest US banks have $114 billion in debt maturing in 2025 that needs refinancing • New regulations requiring banks to hold more loss-absorbing debt also driving issuance