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Bond investors suffering hangover from high-grade debt binge

Issuing spree to fund deals comes amid potential change in tax laws

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Broadcom Ltd brought the biggest November surprise with its audacious US$105 billion bid for Qualcomm Inc, as much as 80 per cent of which could be funded with debt.

New York

INVESTMENT-GRADE companies are making a late-year rush to the debt markets, and investors are choking on the supply.  With more than US$24 billion of bonds already priced this week, following record issuance in October, the market has pushed spreads - the yield over Treasuries

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