Credit Markets Show Signs of Stabilizing After Historic Fed Intervention – The Wall Street Journal, The Wall Street Journal

Key parts of the U.S. debt markets are functioning again, a sign the Federal Reserve’s extraordinary steps are easing a credit-market crunch.

Investors say the Fed has reduced disruptions in the $ 17 trillion US Treasurys market that had sent shock waves through the financial system. Large businesses such as Oracle Corp. and CVS Health Corp. are borrowing money at a record pace. Some lower-rated companies are issuing bonds again. And increased demand for mortgage bonds is starting to pull mortgage rates lower after they unexpectedly …