Corporate Bond Markets Are Quietly Heating Up

Everyone is tracking bank credit growth. Very few are watching where large companies are actually borrowing from. Corporate bond issuances have picked up as companies lock in funding for future capex and refinancing. Historically, management teams tend to raise capital before announcing major expansion plans, not after. This could be an early signal for another leg of private-sector capex. Capital goods and industrial names like $SIEMENS , $ABB , $LT and $CUMMINSIND could benefit if the trend sustains.