US bond market bursts back with nine deals after S&P calamity

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By David Rothnie
17 Mar 2020

That nine US companies and banks should launch bonds the day after a 12% fall in the S&P 500 index, the worst since 1987, is astonishing, but probably shows that companies are anxious to bank large quantities of cash in case markets get worse. The barrage of issuance comes despite core fixed income markets such as Treasuries, swaps and commercial paper being under strain.

The deals came as the US Federal Reserve took further measures to ease pressure on markets, including a new commercial paper funding facility. President Trump plans to ask Congress for an $850bn stimulus package for the US economy, which is set to include helicopter money - cash donations ...

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