Corporate bond sales surge as confidence rises

Newswire

By Jonathan Stempel NEW YORK, Aug 22 (Reuters) - General Motors Corp. and at least 20 other companies are this week selling more than $13 billion of bonds, as investors tired of near record-low U.S. Treasury yields gain confidence in corporate honesty and U.S. economic health. General Motors Acceptance Corp., the finance arm of the world's largest automaker, is conducting the week's largest sale, at $2.5 billion. Companies such as No. 1 financial services company Citigroup Inc. and media ...

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