With interest rates on the rise, corporate treasurers are shelving plans to raise money, with just $61B in corporate debt issued globally thus far in August - on course for the weakest month since 2008, according to Dealogic. In August 2012, $121B was raised.
Corporate bond issuance was running at a fast pace earlier this year, but Apple's $17B April offering in hindsight looks very much like a bell-ringer.
Bankers are hopeful going forward, with one noting a backup in the pipeline. "The market has generally re-priced on the back of higher yields and we fully expect investors to have appetite at new levels."