Investors have extracted record sums of bonds in January, but they are showing signs that their appetite for debt is not endless.
Bond prices have broadly fallen by about 1 cent to the dollar this month on average, dragged down by more than $720 billion in fixed-income securities sold by companies and governments. The leveraged loan market is already seeing signs of decline, with some issuers offering wider spreads than originally discussed to complete deals, Citigroup Inc. said. Michael Anderson He wrote in a note last week.