Companies piled into the US investment-grade bond market Tuesday ahead of the Federal Reserve’s next interest rate decision, after the market was shuttered for a week as banking turmoil swept the US and Europe.
Nine borrowers, mostly utilities, raised fresh debt following a six-day rout that came to an end on Monday. Among the names were insurance provider MetLife Inc., which sold a $1 billion 10-year note that yields 1.58 percentage point over Treasuries, after initial price talks of 1.85 percentage point, according to a person familiar with the matter.
