European Bond Market Has Record Day as Rates Outlook Worsens

Companies flooded Europe’s bond market at a record pace, rushing to lock in funding as central banks warn the Iran conflict could reignite inflation and force interest rates higher.

Sales included Airbus SE’s first bond in nearly six years, beer giant Carlsberg Breweries A/S with debut hybrid debt and pharmaceutical company Novartis AG with a three-part deal. Both investment-grade and junk-rated firms joined the frenzy, and in total 17 corporate borrowers offered 24 tranches — each a record, according to data compiled by Bloomberg.