Companies sitting on record amounts of cash are opting to borrow instead.

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High-Quality Companies Are Selling Bonds at Fastest Pace Ever
https://bloom.bg/2kx5yWX

U.S. investment-grade bond issuance is hitting $74 billion for this week, the most for any comparable period since records began in 1972. Thursday’s $20 billion total adds to the $54 billion already sold, thrashing the week’s forecast of $40 billion.

With a rally in Treasuries pushing the high-grade bond yield to a three-year low of just 2.77%, companies are borrowing cheap money now to refinance more expensive debt, spurred by a positive tone in global markets.

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Posted: 5 years ago
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