Jim Grant on 2021: a record year of issuance

So far in 2021, a record $156 billion's worth of IPOs have come to market in the United States alone, not counting SPACs, which easily tops the prior, $97 billion record set in the bubbly year 2000.  Year-to-date issuance of leveraged loans and junk bonds ($613 billion and $461 billion, respectively) have similarly roared to records.

~ Jim Grant, "All except for the human beings," Grant's Interest Rate Observer, December 24, 2021