Is this all there is? Corporates shut up shop

After two months of virtually uninterrupted buoyancy the US bond market started floundering this week. Predictions had been for a busy week, but at the close on Tuesday the only visitors to the market had been John Deere with a $600m three year floater and Sempra Energy with a $500m 10 year. In the words of Peggy Lee, “Is this all there is?”