Business & Finance
Companies Rush to Borrow Cash as US-Iran Deal Spurs Bullish Mood
Key Points
Companies Rush to Borrow Cash as US-Iran Deal Spurs Bullish Mood US companies looked to offload more than $40 billion of debt in the credit markets on Monday, as they tried to capitalize on investor optimism after the US and Iran reached a tentative agreement to reopen the Strait of Hormuz. Borrowers from Nvidia Corp. to Qnity Electronics Inc. sought to capitalize on a rally across global markets as oil prices tumbled, stocks climbed and short-term Treasury yields fell, indicating lower...
Companies Rush to Borrow Cash as US-Iran Deal Spurs Bullish Mood
US companies looked to offload more than $40 billion of debt in the credit markets on Monday, as they tried to capitalize on investor optimism after the US and Iran reached a tentative agreement to reopen the Strait of Hormuz.
Borrowers from Nvidia Corp. to Qnity Electronics Inc. sought to capitalize on a rally across global markets as oil prices tumbled, stocks climbed and short-term Treasury yields fell, indicating lower expectations for US interest-rate hikes in the near term. Nvidia was set to be the biggest issuer in the investment-grade market, while Qnity brought one of the largest offerings to leveraged loan investors as prices on high-yield debt rose, driving yields lower.