U.S. Borrowers Crowd Market in Week of Jaw-Dropping Outflows
- High-grade U.S. funds see unprecedented $36 billion withdrawal
- UPS, Disney offer new debt in U.S. after four deals in Europe
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U.S. investment-grade funds lost a record $35.6 billion this week, an unprecedented figure that dwarfs the fact that borrowers gave the primary market another shot of life Thursday.
The sum for the week ended March 18 blows through the previous record outflow of $7.3 billion from last week, according to Refinitiv Lipper. It’s almost hard to remember that seven issuers successfully brought new deals Thursday with such a massive figure reported later in the afternoon.