Northeast Utilities

Quality Companies Crowd US Debt Market Despite Jump In Rates

High-grade banks, industrial companies and utilities are still finding it advantageous to tap the U.

S. debt markets despite a recent jump in Treasury yields pushing borrowing costs higher.At least eight borrows are on track to sell more than $10 billion of debt Monday, helping to push January to March high-grade issuance to the fourth-busiest quarter on record, according to Dealogic figures going back to 1995.Corporate-bonds yields fell to a multi-decade low of 3.27% in early March but have since jumped to 3.45%, according to Barclays Capital, after benchmark Treasury yields soared in reaction to last week's upbeat statement from the Federal Reserve .Climbing borrowing costs threaten to slow the volume of new deals hitting the market, as companies seek to refinance existing debt at cheap levels.But high-grade volume is off to a robust start Monday as Morgan Stanley (MS) and Bank of America Corp. (BAC), U.K. miner Rio Tinto (RIO), and German car company Volkswagen (VW) all crowd the mar...

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