The average yield in the U.S. investment-grade and high-yield bond markets fell following the Fed's move, making borrowing more attractive for issuers.

"August lulled investors into tight spreads combined with ever-strong demand for credit. Issuers can borrow at rates we haven't seen in a couple of years."

Twenty-nine companies tapped the bond market today, the busiest single day ever for the market by number of issuers.

Blue-chip companies in the United States sold $172 billion of bonds this month.

The Federal Reserve's efforts to tighten financial conditions across the economy haven't made much of a dent in corporate America yet.

Twelve U.S. blue chips, including Morgan Stanley, issued debt today, making it the busiest day for bond issuance since just after Labor Day.

Yields on corporate bonds have edged steadily higher over Treasuries during the waves of selling that raced through fixed-income markets this year.

Gartner study shows few CFOs are planning to move corporate cash to the cryptocurrency.