(Bloomberg) -- More than a dozen companies are selling just over $20 billion of investment-grade bonds Monday, after yields have fallen over the last week and demand for corporate debt has remained strong.

A subsidiary of Chevron Corp. is borrowing $5.5 billion in a seven-part deal. Marriott International Inc., meanwhile, has a $2 billion two-part bond offering. In terms of the number of deals, it’s the second busiest day for the US blue-chip bond market so far this month.

That’s after 17 companies sold a combined $30 billion of notes last Tuesday, only slightly trailing Jan. 6, when issuers sold nearly $37 billion of debt.

The US investment-grade bond market has held firm against macroeconomic volatility so far this year according to Winifred Cisar, global head of strategy at CreditSights Inc. Average risk premiums are holding around decade lows while yields have been dropping from earlier this year.

“With demand sticky, especially for longer-dated deals, issuers are likely to push to get deals done coming out of earnings season,” Cisar said.

New issuance for the week is already two-thirds of the way toward dealers’ expectations of around $30 billion. Many US companies are exiting earnings season, freeing them up to sell debt as their so-called blackout periods end.

But even if that weekly estimate is reached, the month is poised to fall short of February forecasts of around $175 billion. With Monday’s activity, monthly supply stands at nearly $130 billion. The week that ended on Feb. 14 saw the largest high-grade deal estimate miss since the tumult caused by Silicon Valley Bank’s March 2023 failure. That’s after hotter-than-expected inflation data and tariff rhetoric pushed issuers to the sidelines.

Subsequently, the holiday-shortened week ending on Feb. 21 saw more than $52 billion of bond sales, beating estimates of around $40 billion.

(Updates to add additional pricing details throughout.)