US firms break bond issue record for $135bn as jobless claims soar

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By David Rothnie
26 Mar 2020

US companies have smashed the all time record for bond issuance this month, as they plundered the dollar market in a headlong dash for liquidity that continued on Thursday, even though a darker record was broken: 3.3m new unemployment claims, more than four times the previous highest.

Eleven companies issued on Thursday, bringing supply in March so far to $135bn, leaving the previous monthly record of $120bn in May 2016 in tatters, according to Dealogic.

Retailers CVS Caremark, Home Depot and Target joined the stampede on Thursday, making it 30 firms that have crammed $59bn ...

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