Financial institutions issued $3.4 billion in debt Wednesday and analysts said more would come to market shortly.

Wachovia Corp. and Freddie Mac issued bonds, taking advantage of favorable market conditions. Wachovia issued $400 million in 10-year notes priced at 99 basis points over comparable Treasuries. Freddie Mac issued $3 billion in 10-year debt at a spread of 62.5 basis points over comparable Treasuries.

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