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Companies issue record level of US debt to avoid market turbulence and election risk

Flurry of investment-grade bond deals as investors prepare for a potentially volatile autumn
A $4bn bond deal from Uber was the ride-sharing company’s first such transaction as an investment-grade company

Companies issued record volumes of US debt this week as they moved to head off possible volatility from closely watched economic data, a Federal Reserve meeting and a fast-approaching presidential election.

Twenty-nine US investment-grade bond deals hit the market on Tuesday alone following the Labor Day holiday, data from LSEG shows — the highest daily number on record.

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