U.S. Corporate Bond Spreads Face Pressure From Supply Deluge
- Last rush of deals led to spreads widening out, issuance stop
- Pfizer, Caterpillar, Cigna said to be among coming bond deals
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The U.S. investment-grade bond market is set for another supply test.
This week may be the busiest of the year for corporate bond sales, with analysts from Bank of America Corp. estimating as much as $55 billion of issuance. Already today, Pfizer Inc. and Caterpillar Inc. are said to have announced deals, while Cigna Corp. also plans investor calls for a multi-tranche offering.