Louise and Dave:

We should monitor this transaction this week.

This week, more than $3 billion of sales have been slated. The largest comes from independent power producer Calpine Corp. (NYSE:CPN </quickchart/quickchart.asp?symb=CPN>). It plans to sell $1.35 billion of bonds as part of a $2 billion financing drive after Moody's Investors Service last week upgraded its debt to investment-grade.
I would think it would give us some indication whether the credit markets are there or not.
Charlie