Big tech earnings came and went without so much as a hint ofplans for corporate bond sales this year, setting up a Februarydrought that hasn't been seen in years.
Technology heavyweights such as Apple Inc. and Microsoft Corp.have made February typically the month of choice to borrow money inthe investment-grade market, according to data compiled byBloomberg. Over each of the past five years, the shortest month onthe calendar saw the most or the second-most tech issuance,accounting for nearly 50 percent of the sector's sales in 2018.
But things look set to change this year, as companies have moremoney on hand after tax legislation made it cheaper to bring backcash from abroad.
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