August is a notoriously sleepy month for new issuance, but there was a flurry of new debt issuance this week as borrowers scrambled to take advantage of improved market conditions ahead of an expected post-Labor Day rush.

Amid the recent market rally, the FOMO factor is ramping up. Buysiders are eager to deploy cash after a prolonged slow period, and borrowers are looking to lock in lower rates after months of sky-high spreads.