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.