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Corporate Bond Sales Fall off Cliff

“Broad risk-off movement” likely caused by concerns over interest rates, trade wars, and other sources of geopolitical uncertainty.

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Companies yanked back the reins on bond sales this month amid the widespread carnage in financial markets.

Just $6 billion of new U.S. investment-grade bonds hit the market this week, short of the $15 billion to $20 billion estimate, according to data compiled by Bloomberg. It’s the third time in four weeks that issuance missed expectations and the worst week since August. October’s supply looks likely to fall well below projections of $110 billion and the $114 billion of volume seen in the same period a year ago.

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