US companies keep up bond binge
US companies are on track to sell $1.5 trillion of bonds this year, taking advantage of very low interest rates. That’s about three times the amount of debt American companies were selling annually at the start of the last decade. Companies refinancing more expensive older debt account for a big part of this year’s volume. Other businesses are just raising inexpensive financing. All of them are saving big money that makes American companies much more profitable.