STOCKS | Citigroup and Wells Fargo sell investment-grade bonds after Fed rate hike

According to Wallstreetcn, Citigroup and Wells Fargo are selling investment-grade bonds after the Federal Reserve raised its policy rate for the first time in three years and credit-risk concerns eased. Citigroup plans to raise at least $10 billion through a four-part deal with maturities ranging from three to 11 years, while Wells Fargo plans to raise at least $5 billion through three bond offerings with maturities from four to 11 years. The financing follows the Federal Reserve's 25-basis-point rate hike and its signal that it will raise rates again later this year, which helped ease investors' inflation concerns.