From Investing.com:

Top-rated U.S. companies raised over $29 billion in debt on Tuesday, kicking off the new year with a strong start for the corporate bond market. This was largely driven by investors hoping for lower interest rates later in the year. 16 companies, including Toyota Motor Credit and Ford Motor Credit, issued new bonds in anticipation of lower Treasury yields and tightening credit spreads. The surge in new investment-grade bonds led to a rise in U.S. Treasury yields by 8 basis points to 3.944%. Analysts say this is partly due to the market preparing for new corporate debt issuance. Bond syndicate desks were expecting an average of nearly $63 billion of investment-grade bonds the first week of the year, signaling a busy January and potentially falling yields later in the year.



Read more: Top-rated US companies raise over $29 billion in new-year bond supply rush By Reuters