Companies and governments around the globe spent the past month streaming into debt markets, seizing on declining interest rates ahead of an uncertain US presidential election that many fear will spur volatility in markets, according to a Bloomberg report.

With September’s order books now closed, the velocity of those debt sales is becoming clear, shattering records from New York to Beijing. More than 1,226 of issuers sold over $600 billion of bonds last month, according to data compiled by Bloomberg.

That’s the most for September in records going back more than two decades. Issuance in the US highgrade bond market was the busiest ever in September. European lenders sold a record amount of Additional Tier 1 securities.

China’s offshore market for yuan-denominated notes smashed a single-month record, while TikTok’s owner ByteDance Ltd. is eyeing a $10.8 billion loan in what would be the largest-ever dollar-denominated corporate facility in Asia, excluding Japan.

It was also a stellar September for European debt issuance with over €180 billion ($200 billion) of bonds sold, led by financial borrowers, according to data compiled by Bloomberg.

That made it the second-biggest September on record, lagging only 2021’s €200.78 billion. In the US, companies are looking to borrow before the presidential election potentially roils debt markets and boosts inflation concerns, and prior to entering earnings blackouts.

At the same time they’re taking advantage of robust demand as investors buy bonds before central banks cut interest rates further. Lower risk premiums are also encouraging issuers to act fast.