Morgan Stanley launches 4 part bond offering after equity record
Morgan Stanley just rolled out a new bond sale right after its equity traders had a record-breaking quarter.
The bank's offering bonds in four chunks, with payback periods from four to 11 years.
Its longest bond pays about 1.25% more than government bonds, and the cash raised will help run the business.
Since early 2025, Morgan Stanley has completed four post-earnings bond sales, each raising $8 billion, and hitting $18 billion in total for the first quarter.
Big banks sold $65.8B this year
It's not just Morgan Stanley making moves; big banks have already sold $65.8 billion in bonds this year, especially before global events shook up interest rates.
Things have settled back to normal now, but competition is still fierce: this quarter's total bank bond sales are expected to land between $35 and $45 billion (a bit less than the second quarter of 2025).
Even JPMorgan jumped in today with its own multi-part bond sale aiming for at least $7 billion.