molly smith, bloomberg news, thanks for joining us.hong kong prepares for local elections. what is at stake and how will the results affect the pro-democracy campaign? this is bloomberg. ♪ caroline: time now for a look at what stories are trending. latest fromrs, the citadel to start his hedge fund with a bang. [inaudible] bloomberg.com has a story on tesla's new cyber truck and after ceo elon musk discussed the new pickup, he had his designer smashed the truck with a sledgehammer, but when he smashed the windows, they unintentionally shattered. tesla's product launches are usually scripted and rehearsed, the windows where the big surprise. tictoc on twitter has reported that berkeley is being sued after it became the first u.s. city to prohibit gas stoves in new buildings. a dozen other cities are considering natural gas bands to help curb global warming emissions. you can follow all of the stories on your terminal on bloomberg.com and on tictoc on twitter. romaine: thanks, caroline. the next flashpoint in hong kong may be coming sund

for more, let's bring in molly smith. t's talk about the bond market conditions that are making this such an attractive offer for investors. bloomberg reporting this is a deal that has attracted more than $70 billion in orders. molly: that's right, and we found out the deal has launched at a size of $30 billion, so all of than the $20 billion we were expecting, which shows you what a great environment this is for funding right now. abbvie leading the calendar today with the biggest deal of the year. that will be the fourth largest of all time. it is not just in investment grade and high-yield. we are seeing 10 new deals announced today, but most are opportunistic refinancing, because borrowing costs have been so cheap. shery: that is what i was going to ask. listen to the ceo of al again about how this make sense for them. kind of a tale of two different stories, but size will matter in r&d, having the ability to take these expensive but important bets will be really important to the strategy of the combined company. shery

finance reporter molly smith. why is everyone trying to get in on this deal so much?y are not actually having to togh up much of a premium their existing debt. >> excellent performance today for abbvie, all things considered. the cheapest borrowing cost of the year, so why not get in on this? we have kind of had an idea that this deal has been coming since june. just a matter of time really when they would come forward to the debt markets. it looked like it was timed pretty well. joe: ultimately, stocks at record highs, rates are pretty low. in this environment, there is a lot of appetite for credit, especially decent quality. >> the higher quality is doing well. today was incredibly busy in the high-yield market. we saw at least 10 year deals going forward, most of them bb. not seeing much in the lower .uality single b and ccc caroline: this week, we have been rolling out an exclusive interview with the allergan ceo. this deal hasn't got through regulatory approval yet. his a little listen about confidence. >> it is kind of a tale ofs t ik having the ability these ex