⁍ The past week has seen roughly $42 billion of high-grade debt come to market in 39 deals.

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⁍ Companies had already issued $1.7 trillion in debt through the end of August, according to SIFMA.

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⁍ Friday’s issuance was expected to drive the year-to-date total over $337 billion.

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– The Federal Reserve sounded a dour note at its two-day meeting this week, warning that the US economy is in danger of slipping back into recession, the Wall Street Journal reports. The central bank projected that the US economy would grow just 2.1% this year, down from its previous estimate of 2.9%. It also slashed its forecast for 2018 to 2.1%, down from its previous estimate of 2.6%. The bank said it would hold interest rates near zero for an “extended period” to help the economy heal. “The case for continued tightening has strengthened in recent months,” the Fed said in a statement. “Although the labor market has continued to strengthen, downside risks to the forecast have increased.” The Fed is expected to raise interest rates one more time this year, and many analysts expect them to remain near zero for the rest of the year. That has boosted demand for corporate debt, which has hit a record high. “You have low interest rates, you have tight credit spreads: If I’m an issuer, I’m going to issue as much as humanly possible because it’s cheap debt,” the head of global bonds at Janus Henderson Investors tells Reuters. “That demand is there because people are craving any sort of return.”