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Corporate bonds hit $1,000bn

Global corporate bond issuance has risen to a record $1,103bn (£666bn) in 2009, with four months of the year to go, according to data provider Dealogic. The boom is because of the difficulty firms face in getting loans and strong demand from investors, who can gain big yields on corporate paper compared with government bonds. Investors have switched more of their cash into corporate bonds because they offer higher returns than low interest rates on bank deposits and savings accounts.