高收益发行与技术仪表板

High Yield Issuance and Technicals Dashboard Michael AndersonACMichael.Henry.Anderson@citi.com+1 (212) 723-3819 Steph Choe, CFAACSteph.jun.choe@citi.com+1 (212) 723-9782 Annual Issuance Cumulative YTD Issuance as % of the Index Issuance and Use of Proceeds Issuance by Maturity and Rating Issuance by Seniority and Seasonality Sector Issuance and New Issue Performance Technicals: Fund Flows Technicals: Index Size and Crossover Activity Technicals: Cash Flow Forecast + Maturity/Dealer Bal. If you are visually impaired and would like to speak to a Citi representative regarding the details of the graphics inthis document, please call USA 1-888-500-5008 (TTY: 711), from outside the US +1-210-677-3788 Appendix A-1 ANALYST CERTIFICATION The research analysts primarily responsible for the preparation and content of this research report are either (i) designated by “AC” in the authorblock or (ii) listed in bold alongside content which is attributable to that analyst. If multiple AC analysts are designated in the author block, eachanalyst is certifying with respect to the entire research report other than (a) content attributable to another AC certifying analyst listed in boldalongside the content and (b) views expressed solely with respect to a specific issuer which are attributable to another AC certifying analystidentified in the price charts or rating history tables for that issuer shown below. Each of these analysts certify, with respect to the sections of the IMPORTANT DISCLOSURES Analysts’ compensation is determined by Citi Research management and Citigroup’s senior management and is based upon activities and servicesintended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates (the “Firm”). Compensation is not linked to specific transactionsor recommendations. Like all Firm employees, analysts receive compensation that is impacted by overall Firm profitability which includes investment For financial instruments recommended in the Product in which the Firm is not a market maker, the Firm is a liquidity provider in such financialinstruments (and any underlying instruments) and may act as principal in connection with transactions in such instruments. The Firm is a regular issuer oftraded financial instruments linked to securities that may have been recommended in the Product. The Firm regularly trades in the securities of Unless stated otherwise neither the Research Analyst nor any member of their team has viewed the material operations of the Companies for which aninvestment view has been provided within the past 12 months. For important disclosures (including copies of historical disclosures) regarding the companies that are the subject of this Citi Research product ("theProduct"), please contact Citi Research, 388 Greenwich Street, 6th Floor, New York, NY, 10013, Attention: Legal/Compliance [E6WYB6412478]. Inaddition, the same important disclosures, with the exception of the Valuation and Risk assessments and historical disclosures, are contained on the RESEARCH ANALYST AFFILIATIONS / NON-US RESEARCH ANALYST DISCLOSURESThe legal entities employing the authors of this report are listed below (and their regulators are listed further herein). Non-US research analysts who have prepared this report (i.e., all research analysts listed below other than those identified as employed by Citigroup Global Markets Inc.) are notregistered/qualified as research analysts with FINRA. Such research analysts may not be associated persons of the member organization (but are Citigroup Global Markets Inc.OTHER DISCLOSURES 33%(63%), Hold 44% (52%), Sell 23% (46%), RV 0.5% (89%): Q4 2025 Buy 33% (63%), Hold 44% (50%), Sell 23% (46%), RV 0.4% (91%); Q3 2025 Buy33% (61%), Hold 44% (52%), Sell 23% (50%), RV 0.4% (80%); Q2 2025 Buy 33%(63%), Hold 44% (51%), Sell 23% (49%), RV 0.4% (86%). For the purposesof disclosing recommendations other than for equity (whose definitions can be found in the corresponding disclosure sections), "Buy" means a positivedirectional trade idea; "Sell" means a negative directional trade idea; and "Relative Value" means any trade idea which does not have a clear direction to European regulations require a 5 year price history when past performance of a security is referenced. CitiVelocity’s Charting Tool(https://www.citivelocity.com/cv2/#go/CHARTING_3_Equities) provides the facility to create customisable price charts including a five year option. Thistool can be found in the Data & Analytics section under any of the asset class menus in CitiVelocity (https://www.citivelocity.com/). For furtherinformation contact CitiVelocity support (https://www.citivelocity.com/cv2/go/CLIENT_SUPPORT). The source for all referenced prices, unlessotherwise stated, is DataCentral, which sources price information from LSEG Data & Analytics. Past performance is not a guarantee or reliable indicator offuture results. Forecasts are not a guarantee or reliable indicator of futur