T-Mobile Inc. on Monday joined a deluge of big U.S. corporations borrowing in the bond market this September as Wall Street braces for another jumbo-sized rate hike from the Federal Reserve.
That was significantly less than initial price talk in the 220 basis point area, while robust demand also helped the borrower dial back borrowing costs on its 30-year and 40-year classes of bonds, according to Informa. “We are seeing very, very heavy supply,” said Matt Brill, head of North America Investment Grade at Invesco, by phone, while noting that September often ends up a top month for bond issuance each year.
Check out: Fed will need ‘great skill’ and ‘good luck’ to bring down inflation without crashing the economy, Yellen says The 10-year Treasury rate TMUBMUSD10Y, 3.345% was near 3.4% on Monday, climbing toward its one-year high of almost 3.5%, according to Dow Jones Market Data. That’s helped push the yield on the ICE BofA US Corporate Index to about 5% from a pandemic low of about 1.8%, even as companies rush to borrower before it becomes debt becomes even more expensive.
Come check wpt out WarPigsToken WPT_Investing
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »