WSJ: Bond market cracks open for blue-chip companies – then slams shut

THE WALL STREET JOURNAL writes (posted on marketscreener.com):

Goldman Sachs Group Inc. bankers were marketing bonds for Verizon Communications Inc. and Exxon Mobil Corp. on Tuesday when investors countered with an offer: If Goldman were interested in raising some cash for itself, they would be interested in buying.

Goldman did just that, issuing $2.5 billion of bonds due in 2030 at 3 percentage points over a government rate. It was a player two ways — issuer and underwriter — when the window briefly cracked open for blue-chip companies to raise cash by selling bonds. By Wednesday morning, the window had shut again, with far fewer deals in the market, bankers and investors said.

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