Corporations Are Swimming in Cheap Cash. So Why Aren't They Investing?

U.S. corporations are currently enjoying the cheapest cost of capital in more than half a century. According to Moody’s, average corporate bond yields are just north of 5 percent. That’s up from 4.5 percent in April, but by historical standards, it’s still dirt cheap. Corporate bond yields haven’t been this consistently low since the mid-1960s.