Slowdown in the pipeline

bond supply

The floodgates have been closed and the wells are running dry. Low-flying interest rates had most companies scurrying to the debt markets last year, taking care of their financing needs before the inevitable rise in rates would make money expensive again. But the slowdown has taken place earlier than anticipated. Contrary to most analyst expectations on the Street, supply in the investment-grade corporate bond market has already pulled back sharply from the frenetic pace that it sustained