Sales of U.S. corporate bonds rose for the second straight week,the first back-to-back gain in three months, as borrowers tookadvantage of tightening relative yields.

AT&T Inc., the largest U.S. phone company, and Louisville,Colorado-based Zayo Group LLC led borrowers issuing $17.4 billion,a 6 percent increase from the five days ended June 8, according todata compiled by Bloomberg. The extra yield investors demand tohold corporate debt rather than Treasuries with similar maturitiesnarrowed 3 basis points this week through yesterday to 315 basispoints, or 3.15 percentage points, according to Bank of AmericaMerrill Lynch's U.S. Corporate & High Yield Master index.

Symantec Corp. joined AT&T as sales reached $6.9 billion onJune 11, the busiest start to a week in more than two months. Whileissuers rushed to the market on growing optimism that financialcontagion can be contained following Spain's request for a 100billion euro ($126 billion) bank bailout, the pace slowed inadvance of elections on June 17 in Greece that may determine thefuture of the euro zone.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.