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The article describes the condition of the corporate bond market in the U.S. in 2018. It indicates the consequences of investing in corporate bonds in the aging business cycle. Investors are warned about the surge in so-called leveraged loans. Also discussed is the impact of an interest rate increase and corporate leverage on the corporate bond market.

The article reports on the 3.26% average interest of short-term business loans by New York City banks and the acquisition of 36% of 2.8 billion dollars worth of long-term corporate bonds by pension funds for public employees in 1954 in the U.S.

The author reports that asset manager BlackRock Inc. will make its first offering since its debut issue over two years ago. The company plans to sell 2.5 billion dollars in bonds. According to the company's filing with the U.S. Securities and Exchange Commission, proceeds will be used to repay commercial paper.