Debt fund managers pack laptops for vacation as bond sales soar

Many companies are looking to sell debt before the US presidential election in November potentially roils interest rate markets.

COMPANIES have been borrowing heavily in US debt markets this summer, spurring money managers to pack their laptops when they head out on vacation during what was historically a quiet time of year.

For asset-backed securities (ABS), where the trend is starkest, sales have been averaging higher over the summer than for the rest of the year.