Deflation Watch: IBM Sells 3-Year Notes at 1% Yield

Aug. 3 (Bloomberg) -- International Business Machines Corp. raised $1.5 billion at the lowest interest rate on record as the credit rally that began in June extended into August on investor confidence the economy won’t slip back into recession.

The 1 percent, 3-year notes from IBM, the world’s biggest computer-services company, have the lowest coupon of the more than 3,400 securities in the Barclays Capital U.S. Corporate Index of investment-grade company debt.