$14 Trillion in IG Supply Coming to the Market | March 24, 2026 | Torsten Slok's The Daily Spark | Apollo Global

Apollo: Ten trillion dollars in existing US government debt will need to be refinanced over the coming 12 months, see chart.

The budget deficit this year is about $2 trillion.

Total gross corporate bond issuance in 2026 is likely to be around $2 trillion because of increased supply from hyperscalers.

Adding it all up, the total amount of investment grade supply coming to the market this year is around $14 trillion.

The bottom line is that the growing supply of investment grade fixed income product is putting upward pressure on rates and credit spreads.