From Amazon to Airbnb, US Blue-Chip Bond Sales Flirt With Record

Middle East war. Rising yields and oil prices. Private credit distress. It barely seemed to matter for corporate borrowers this week as US investment-grade bond sales came close to yet another record.

Volumes reached $115 billion, just shy of the record weekly high of around $117 billion notched in 2020 when pandemic-related shutdowns and unprecedented measures by the Federal Reserve fueled a rush of capital raising by companies staring into the unknown.

“With plenty of dark clouds out there — geopolitics, rate volatility, private credit nerves — it’s impressive how smoothly IG is functioning,” said John Lloyd ...