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

Nike tick swoosh logo from Adobe 26Mar20 575x375
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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial