Major US banks flood market

摘要

While emerging market sovereign issuers stole the headlines last week by rushing to the US dollar bond market to get in ahead of Donald Trump's inauguration as president (see Top News), they were not alone. BANK OF AMERICA, MORGAN STANLEY and WELLS fargo were also active on Tuesday and raised nearly US$19bn in senior bonds in just that one day. The rush to issue bonds came after these banks announced results, and though it seemed mostly to take advantage of strong demand for financial paper early in the year, it also helped them reaffirm access to sizeable and cost-competitive debt.