European banks to Asian corporates, global bond sales reach nearly $600 bn

Financial firms have led the charge in global issuance this year as a sector, with year-to-date sales topping $250 billion

The best start to a year for bond returns is helping fuel an unprecedented debt-sale bonanza by governments and companies around the world of more than half a trillion dollars.

From European banks to Asian corporates and developing-nation sovereigns, virtually every corner of the new issue market is booming, thanks in part to a rally that’s seen global bonds of all stripes surge 4.1% to start the year, the best performance in data stretching back to 1999.

Borrowers looking to raise fresh financing after getting turned away for much of 2022 are suddenly encountering investors with a seemingly