Companies Are Racing to the US Debt Market

The surge of borrowing in the US corporate debt market, on the surface, looks odd. Despite all the excitement about the Federal Reserve’s long-awaited pivot toward easing monetary policy, it hasn’t done so yet. In fact, its benchmark interest rate is still pinned at a more than two-decade high. But up and down corporate America, at blue-chip businesses and those heavily burdened by debts, executives are turning to Wall Street to borrow cash at a blistering pace. It’s the sort of stampede expecte