Companies tapped the credit markets for more than $21 billion in new bond issues last week. Nearly half the total was companies headquartered overseas visiting the U.S. credit markets to swap their bonds for greenbacks -- lots of greenbacks.
Mining giant BHP Billiton
Steel giant ArcelorMittal
Honda's American Honda Finance drove off with $1.75 billion in a two-tiered private deal.
Brazil's Banco Bradesco
Not all the big borrowers were overseas companies. Wells Fargo
Top quality bond yields continue to be very low. It's hard to imagine many scenarios where a 30-year bond at 4-ish percent turns out to be a bargain (for the purchaser). There are higher rates out there, but higher credit risks typically come along for the ride. I'm underweight bond funds in my portfolio and don't see any reason for that to change in the near future.