US investment-grade bond issuance hit an August record and marked the third
consecutive month of monthly records, maintaining the fastest issuance pace on
record. As of Monday, August issuance reached $145.2bn, exceeding the prior
August record of $136.0bn in 2020. Heavy corporate spending on AI infrastructure
has boosted borrowing demand; this month’s volume was led by Alphabet (GOOG.O)’s
$25bn deal. This was the eighth $25bn-or-larger offering so far this year, and
all eight came from technology companies.
