US BROKERAGE houses raced to the global bond markets with their own issues this week, eager to supply hungry investors with transactions during one of the lightest new issue calendars seen for the month of January in some years. Bear Stearns came to market with an $850m five year global and Goldman Sachs launched $750m of five year and $750m of 10 year bonds this week, after seeing last Friday's blow-out $2bn issue of five year global bonds by Lehman Brothers. All three deals were launched at the tight end of price talk and traded strongly in the aftermarket due to US investors still holding excessive levels of cash in their portfolios.
January 28, 2000
