Wall Street Weekahead: Corporate Debt Frenzy Rolls On As Worries Loom Over Markets
(WorldNews Business)

NEW YORK: Investors are gearing up for the year`s record-breaking pace of corporate bond issuance to continue in the coming week, even after the U.S. Federal Reserve rattled nerves at its September meeting with a gloomier-than-expected economic outlook. The past week has seen roughly $42 billion of high-grade debt come to market in 39 deals, most of which were small and offered by first-time issuers. “I would expect next week to be similar,” said Monica Erickson, portfolio manager, global developed credit, at DoubleLine. The breakneck pace of fresh issuance illustrates how the Fed`s late March pledge to backstop credit markets and its policy of...