Photo: The Marriner S. Eccles Federal Reserve building in Washington, D.C., on February 27, 2024. Photographer: Moriah Ratner/Bloomberg. The Marriner S. Eccles Federal Reserve building in Washington, D.C., on February 27, 2024. Photographer: Moriah Ratner/Bloomberg.

U.S. companies stormed debt markets on Monday following the Federal Reserve's decision last week to begin lowering its benchmark interest rate, pushing borrowing costs down.

Ten high-grade issuers—including T-Mobile—raised a total of $12.2 billion, with the market bouncing back after sales fell short of issuance forecasts last week. There could be $20 billion to $25 billion worth of deals this week, according to syndicate desks. There are 10 companies borrowing in the junk-bond market, marking its busiest day this year in terms of the number of issuers. Also in the United States, 18 leveraged loan deals launched.

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Corporate Borrowing & Debt