SYFHF - Synchrony Financial And UPS Underscore Healthy Demand For High Grade Corporate Bonds
New investment-grade corporate bond sales continue to flood the market, amid still ultra-low U.S. interest rates.
To date this week, a total of more than US$25.25bn of high-grade corporate debt priced, trouncing most syndicate managers’ expectations by almost 118%, and to this point in March, issuance has tallied around US$65.75bn.
Bond investors widely attribute part of the ongoing onslaught of issuance to the Federal Reserve’s maintenance of cheap borrowing costs.
The Federal Open Market Committee ((FOMC)), the Fed’s policymaking body, had decided at its January meeting to leave the target range for the federal funds