With 49 Deals in 30 Hours, U.S. Corporate Bond Market Ignites
- Record-breaking issuance comes amid plunging debt yields
- Companies are mostly refinancing instead of investing
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Corporate America is lining up at the debt trough again.
Companies are borrowing $74 billion in the U.S. investment-grade bond market this week, the most for any comparable period since records began in 1972. Since Tuesday, corporations including Coca-Cola Co., Walt Disney Co., and Apple Inc. have sold notes as yields have dropped.