Treasuries Swing on Corporate America's Continued Borrowing Spree
Bank of America finds company bond sales at record pace add clout
This article is for subscribers only.
News of a debt offering from Intel Corp. took Treasuries on a rollercoaster ride.
The brief swings Wednesday are the latest sign that corporate-bond offerings are driving bigger moves in U.S. government debt prices this year, as a historic wave of issuance competes with Treasuries for space in investors' portfolios, according to strategists at Bank of America Corp. The trend has picked up as post-financial crisis regulations prompt Wall Street dealers to step back from Treasury trading, which means smaller trades can move prices.