Wells Fargo and JPMorgan sell US$13bil of bonds post-earnings

Wells Fargo issued US$6bil of bonds in two parts, while JPMorgan priced a US$7.25bil, three-part offering, a source said. — Bloomberg

NEW YORK: Wells Fargo and Co and JPMorgan Chase and Co led the biggest Wall Street banks in tapping the US investment-grade market after reporting third quarter earnings.

The Wall Street giants borrowed from the debt market after posting strong net interest income and raising their outlook guidance.