Global bond issuance fell 16% year on year last week, Goldman Sachs data showed, but issuance since the start of the year was still 9% higher than in the same period last year. The mix shifted sharply: investment-grade corporate bonds (debt sold by higher-rated companies) rose 60%, while high-yield bonds (riskier corporate debt) dropped 41% and leveraged loans (debt used by already heavily indebted borrowers) plunged 88%. Bond issuance by financial firms increased 38%, while structured finance issuance fell 64%. At the same time, assets in ETFs tracking the S&P and MSCI indexes continued to grow strongly, rising 32% and 36%, respectively.