JPMorgan Chase & Co, the US investment giant recently sold $8 billion worth of corporate bonds after posting a strong third-quarter profit.
The firm, which had originally discussed issuing $6-7 billion worth of bonds, received strong demand from investors with an order of $34 billion, allowing it to increase the bond size.
The issuance of these bonds is seen as a sign of possible large-scale loans from major Wall Street banks in the coming months.
The sell-off comes as JPMorgan and other major banks such as Goldman Sachs, Bank of America, and Citigroup continue to beat analysts' expectations in equity and fixed income trading.
This was the bank's best result for the quarter ended September 30.
Meanwhile, JPMorgan also continues to expand its global empire by announcing plans to enter Kenya and the Ivory Coast.
This plan is made with a focus on commercial and investment banking and treasury services.
CEO Jamie Dimon emphasized that the strategy to strengthen the presence in Africa is with a long-term plan to introduce more services such as asset and wealth management.
The idea of JPMorgan's expansion into Africa comes at a time when other global financial institutions are expanding their wings into international markets.
For example, Standard Chartered focuses on Kenya.
Assets under management in the East African country rose by 25% last year to 185.5 billion Kenyan shillings, which is equivalent to about $1.4 billion US.
This move is expected to strengthen JPMorgan's position in the region as well as build local partnerships that are important for future growth.
