Bonds
US High-Grade Bond Sales Post Biggest July since 2017
- Issuance this month hit $92.2 billion, the most in seven years
- Bankers had called for up to $85 billion of new bond sales
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Blue-chip companies sold bonds this month at the fastest rate for any July in seven years, harnessing strong demand from investors looking to lock in high yields before the Federal Reserve starts cutting rates.
US investment-grade bond issuance has reached almost $92.2 billion this month, the biggest July volume since $123 billion was issued in 2017. That’s well over the top end of $85 billion dealers expected to be sold, with about a week left to go.