Corporate Bond Issuers' Swap Exposure to Rising Interest Rates, Accessible Data

Accessible version of figures

Figure 1: Gross Issuance of Nonfinancial Corporate Bonds

Investment grade Speculative grade
2005:Q2 49.02 46.74
2005:Q3 43.48 55.00
2005:Q4 37.52 37.69
2006:Q1 63.97 50.90
2006:Q2 69.34 40.44
2006:Q3 51.77 41.58
2006:Q4 73.92 75.95
2007:Q1 63.63 51.31
2007:Q2 72.21 74.64
2007:Q3 66.60 41.98
2007:Q4 74.38 57.99
2008:Q1 76.41 26.63
2008:Q2 100.10 35.40
2008:Q3 36.73 31.25
2008:Q4 63.71 12.07
2009:Q1 145.14 31.16
2009:Q2 83.18 55.51
2009:Q3 61.92 51.14
2009:Q4 69.95 58.91
2010:Q1 73.56 67.00
2010:Q2 47.79 69.66
2010:Q3 103.81 93.22
2010:Q4 73.91 90.84
2011:Q1 83.12 82.86
2011:Q2 84.52 87.11
2011:Q3 100.10 59.98
2011:Q4 79.83 63.90
2012:Q1 88.22 87.28
2012:Q2 96.22 53.35
2012:Q3 99.30 95.55
2012:Q4 135.13 102.18
2013:Q1 127.64 104.04
2013:Q2 111.88 82.29
2013:Q3 130.79 102.80
2013:Q4 105.01 84.95
2014:Q1 115.47 77.48
2014:Q2 108.19 86.04
2014:Q3 82.38 75.44
2014:Q4 140.87 76.86
2015:Q1 153.93 76.27
2015:Q2 210.63 82.45
2015:Q3 173.43 50.91
2015:Q4 137.32 49.77

Note: Bonds are categorized by Moody's, Standard & Poor's and Fitch.

Source: Mergent FISD.

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Figure 2: Fraction of Non-financial Corporate Floating Rate Notes

Investment grade Speculative grade
1/1/1996 0.59 0.18
2/1/1996 0.59 0.17
3/1/1996 0.62 0.17
4/1/1996 0.63 0.17
5/1/1996 0.63 0.16
6/1/1996 0.63 0.16
7/1/1996 0.6 0.16
8/1/1996 0.62 0.13
9/1/1996 0.61 0.13
10/1/1996 0.62 0.13
11/1/1996 0.6 0.18
12/1/1996 0.62 0.18
1/1/1997 0.63 0.18
2/1/1997 0.62 0.14
3/1/1997 0.62 0.14
4/1/1997 0.62 0.14
5/1/1997 0.54 0.14
6/1/1997 0.56 0.14
7/1/1997 0.53 0.19
8/1/1997 0.55 0.18
9/1/1997 0.61 0.09
10/1/1997 0.55 0.09
11/1/1997 0.57 0.09
12/1/1997 0.58 0.15
1/1/1998 0.65 0.17
2/1/1998 0.68 0.15
3/1/1998 0.68 0.17
4/1/1998 0.66 0.27
5/1/1998 0.66 0.22
6/1/1998 0.67 0.23
7/1/1998 0.71 0.26
8/1/1998 1.03 0.29
9/1/1998 1.06 0.24
10/1/1998 1.2 0.3
11/1/1998 1.18 0.28
12/1/1998 1.17 0.28
1/1/1999 1.18 0.29
2/1/1999 1.11 0.28
3/1/1999 1.1 0.25
4/1/1999 1.17 0.18
5/1/1999 1.36 0.19
6/1/1999 1.72 0.19
7/1/1999 1.89 0.18
8/1/1999 1.9 0.18
9/1/1999 1.9 0.18
10/1/1999 1.94 0.18
11/1/1999 2.01 0.16
12/1/1999 2.21 0.16
1/15/2000 2.41 0.16
2/15/2000 2.53 0.15
3/15/2000 2.7 0.15
4/15/2000 2.94 0.15
5/15/2000 3.06 0.15
6/15/2000 2.98 0.15
7/15/2000 2.85 0.15
8/15/2000 3.43 0.14
9/15/2000 3.56 0.25
10/15/2000 3.68 0.26
11/15/2000 4.08 0.25
12/15/2000 4.28 0.26
1/15/2001 4.22 0.3
2/15/2001 4.1 0.41
3/15/2001 3.99 0.39
4/15/2001 3.94 0.42
5/15/2001 3.9 0.4
6/15/2001 3.9 0.4
7/15/2001 3.95 0.35
8/15/2001 4.04 0.33
9/15/2001 3.55 0.32
10/15/2001 3.51 0.3
11/15/2001 3.38 0.31
12/15/2001 3.27 0.3
1/15/2002 3.22 0.28
2/15/2002 3.22 0.19
3/15/2002 2.99 0.19
4/15/2002 2.96 0.28
5/15/2002 2.94 0.26
6/15/2002 2.83 0.25
7/15/2002 2.8 0.24
8/15/2002 2.7 0.24
9/15/2002 2.6 0.22
10/15/2002 2.56 0.21
11/15/2002 2.44 0.23
12/15/2002 2.39 0.25
1/15/2003 2.39 0.25
2/15/2003 2.51 0.25
3/15/2003 2.45 0.31
4/15/2003 2.45 0.28
5/15/2003 2.47 0.29
6/15/2003 2.47 0.24
7/15/2003 2.48 0.28
8/15/2003 2.48 0.39
9/15/2003 2.72 0.41
10/15/2003 2.9 0.39
11/15/2003 2.82 0.41
12/15/2003 2.69 0.44
1/15/2004 2.92 0.63
2/15/2004 3.01 0.77
3/15/2004 3.25 1.21
4/15/2004 3.21 1.37
5/15/2004 3.33 1.43
6/15/2004 3.4 1.51
7/15/2004 3.56 1.56
8/15/2004 3.62 1.7
9/15/2004 3.68 1.74
10/15/2004 3.7 1.83
11/15/2004 3.72 1.89
12/15/2004 3.73 1.99
1/15/2005 3.7 1.99
2/15/2005 3.58 2.16
3/15/2005 3.71 2.33
4/15/2005 3.6 2.45
5/15/2005 3.55 2.4
6/15/2005 3.74 2.53
7/15/2005 3.77 2.63
8/15/2005 3.73 2.74
9/15/2005 3.94 2.92
10/15/2005 3.74 3.02
11/15/2005 3.66 3.07
12/15/2005 3.8 3.14
1/15/2006 3.69 3.13
2/15/2006 3.76 3.18
3/15/2006 3.85 3.19
4/15/2006 3.88 3.29
5/15/2006 4.15 3.18
6/15/2006 4.19 3.26
7/15/2006 4.42 3.28
8/15/2006 4.57 3.36
9/15/2006 4.64 3.23
10/15/2006 4.6 3.19
11/15/2006 4.81 3.29
12/15/2006 5.04 3.42
1/15/2007 4.98 3.43
2/15/2007 5.17 3.56
3/15/2007 5.16 3.56
4/15/2007 5.15 3.55
5/15/2007 5.49 3.65
6/15/2007 5.67 3.64
7/15/2007 5.79 3.58
8/15/2007 5.67 3.48
9/15/2007 5.44 3.44
10/15/2007 5.21 3.31
11/15/2007 5.08 3.29
12/15/2007 4.97 3.26
1/15/2008 5.14 3.09
2/15/2008 5.11 3.03
3/15/2008 5.06 3
4/15/2008 5.04 2.97
5/15/2008 4.9 2.83
6/15/2008 4.64 2.89
7/15/2008 4.57 2.86
8/15/2008 4.42 2.73
9/15/2008 4.34 2.73
10/15/2008 4.26 2.72
11/15/2008 4.03 2.73
12/15/2008 3.83 2.76
1/15/2009 3.72 2.7
2/15/2009 3.57 2.71
3/15/2009 3.31 2.64
4/15/2009 3.26 2.62
5/15/2009 3.23 2.57
6/15/2009 2.98 2.42
7/15/2009 2.7 2.46
8/15/2009 2.51 2.41
9/15/2009 2.31 2.31
10/15/2009 2.3 2.21
11/15/2009 2.19 2.06
12/15/2009 2.09 1.93
1/15/2010 1.98 2.05
2/15/2010 1.87 2.07
3/15/2010 1.83 1.96
4/15/2010 1.57 1.89
5/15/2010 1.4 1.74
6/15/2010 1.16 1.6
7/15/2010 1.09 1.56
8/15/2010 1.03 1.53
9/15/2010 1.03 1.5
10/15/2010 1.02 1.48
11/15/2010 1.06 1.42
12/15/2010 1.1 1.38
1/15/2011 1.16 1.3
2/15/2011 1.25 1.2
3/15/2011 1.39 1.16
4/15/2011 1.54 1.16
5/15/2011 1.82 1.14
6/15/2011 1.78 1.15
7/15/2011 1.71 1.07
8/15/2011 1.7 1.08
9/15/2011 1.74 1.07
10/15/2011 1.72 1.07
11/15/2011 1.66 1.02
12/15/2011 1.66 0.97
1/15/2012 1.79 0.95
2/15/2012 1.83 0.9
3/15/2012 1.87 0.89
4/15/2012 1.9 0.87
5/15/2012 1.92 0.86
6/15/2012 1.87 0.86
7/15/2012 1.85 0.82
8/15/2012 1.83 0.76
9/15/2012 1.76 0.74
10/15/2012 1.69 0.69
11/15/2012 1.61 0.69
12/15/2012 1.61 0.69
1/15/2013 1.55 0.66
2/15/2013 1.76 0.62
3/15/2013 1.73 0.43
4/15/2013 1.85 0.36
5/15/2013 1.76 0.22
6/15/2013 1.72 0.2
7/15/2013 1.83 0.24
8/15/2013 1.8 0.24
9/15/2013 1.86 0.29
10/15/2013 1.89 0.32
11/15/2013 1.95 0.37
12/15/2013 2 0.32
1/15/2014 2.05 0.32
2/15/2014 2.1 0.31
3/15/2014 2.03 0.27
4/15/2014 2.03 0.39
5/15/2014 2.01 0.46
6/15/2014 2.05 0.46
7/15/2014 2.08 0.46
8/15/2014 2.07 0.44
9/15/2014 2.09 0.43
10/15/2014 2.1 0.42
11/15/2014 2.26 0.41
12/15/2014 2.28 0.42
1/15/2015 2.23 0.42
2/15/2015 2.27 0.41
3/15/2015 2.26 0.41
4/15/2015 2.24 0.39
5/15/2015 2.31 0.43
6/15/2015 2.27 0.52
7/15/2015 2.21 0.53
8/15/2015 2.22 0.52
9/15/2015 2.15 0.52
10/15/2015 2.14 0.53
11/15/2015 2.13 0.53
12/15/2015 2.1 0.53

Source: Mergent Fixed Income Securities Database: Shown as fraction of total amount outstanding.

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