Tech spreads widened during heavy issuance and rallied when supply paused
The chart illustrates changes in US Investment Grade Tech bond spreads during periods of no issuance versus heavy tech supply between November 2025 and August 2026. Tech spreads tightened during supply pauses and widened significantly during heavy issuance cycles.
| Label | Value shown on the chart |
|---|---|
| Nov 17, 2025 – Feb 2, 2026 (No Tech Supply) | US$0 issuance | 0 deals | US IG Tech -10 |
| Feb 2, 2026 – Apr 30, 2026 (Heavy Tech Supply) | US$128.85bn issuance | 7 deals | US IG T |
| Apr 30, 2026 – Jun 4, 2026 (No Tech Supply) | US$0 issuance | 0 deals | US IG Tech -10 |
| Jun 15, 2026 – Aug 6, 2026 (Heavy Tech Supply) | US$112.70bn issuance | 5 deals | US IG T |
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