The credit markets reopened with a bang yesterday after their three-day shut down as nine investment-grade companies sold almost $12 billion worth of bonds, the Wall Street Journal reports. The surge reflects companies' eagerness to get issuance in before the jobs report today and the U.S. elections Tuesday.
BP Capital Markest sold $3 billion of fixed-income securities in three tranches. General Dynamic sold $2.4 billion, Bank of Montreal sold $2 billion and Caterpillarissued $1.2 billion.
According to the Journal, a megadeal from Abbott Laboratories that was expected this week will be postponed until next week.
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