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Banks Are Flooding the US Market With Bonds Many Hadn’t Expected

  • Issuance for big lenders almost double what JPMorgan forecast
  • Firms find demand is still strong as bank bonds outperform

Wall Street banks were supposed to be done with much of their borrowing in bond markets for the year. Then this week, they sold another $27.5 billion of notes. 

About $10 billion came from Bank of America Corp. on Tuesday. JPMorgan Chase & Co., Wells Fargo & Co. and Morgan Stanley sold a combined $17.5 billion on Monday. And Goldman Sachs Group Inc., which hasn’t announced an offering, may bring the total still higher.