Bond Sales in U.S. Decline 11% on Week

Corporate issuance fell this week amid news of central banks’ efforts to stimulate growth.

Sales of corporate bonds in the U.S. decreased 11 percent this week, falling from the fastest pace in six months, following announcements of central bank efforts to curb borrowing costs and stimulate growth.

JPMorgan Chase & Co., the biggest U.S. bank, and Basel, Switzerland-based Novartis AG led borrowers selling at least $44.6 billion of debt, following $50.2 billion last week, according to data compiled by Bloomberg. Sales compare with a 2012 weekly average of $26.8 billion.

‘Strong Demand’

“Issuers are taking advantage of the strong demand within the marketplace for paper,” Ashish Shah, the head of global credit investments at AllianceBernstein LP in New York, which oversees $230 billion in fixed-income assets, said in a telephone interview. “September is typically a big issuance month, particularly when you see a rally.”

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