Bitcoin

This is a large-cap consumer staples consolidation financed with debt at a time when credit spreads are historically tight and the Fed's rate path remains uncertain. It signals that corporate M&A is re-leveraging, which historically precedes a pickup in IG supply that can pressure risk assets and crowd out speculative flows.

Kimberly-Clark Corp. is selling investment-grade bonds in up to five parts to help fund its pending acquisition of Kenvue Inc.