4  BIS central bankers’ speeches  The corporate-finance example is also consistent with what we have observed in markets in recent months. Issuance of both investment-grade and high-yield bonds has been robust. Indeed, domestic nonfinancial corporate bond issuance is on pace to set a record in 2012, and the speculative-grade segment may also register a new high for the year.
The proposed basket of manufactured products in the new series would cover significantly a higher number of commodities and would integrate items from both organised and un-organised manufacturing sectors. While this would improve coverage, the challenge is to ensure collection of price data on a regular basis so that the quality could be maintained. The revised WPI basket, however, would not include services prices.