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Beware the $500 Billion Bond Exodus

  • Tax law seen spurring ‘demand shock’ as companies repatriate
  • Multinationals parked foreign income in U.S. debt to avoid IRS
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Bonds Are More Than 500 Years Old and Bigger Than Ever
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Farewell, Ireland: It looks like corporate America will finally bring that cash home.

For years, the likes of Apple Inc. and Microsoft Corp. have stashed billions of dollars offshore to slash their U.S. tax bills. Now, the tax-code rewrite could throw that into reverse.