Wall Street Banks Lock in Low Rates With Barrage of Bond Sales

American banks are cashing in on strong earnings to raise more debt at low rates while they still can.

Morgan Stanley priced a $7.5 billion three-part bond sale. JPMorgan Chase & Co. followed last week’s jumbo dollar issue with 2 billion pounds ($2.8 billion) of new debt and Goldman Sachs Group Inc. announced the sale of $675 million in perpetual bonds to redeem preferred stock.

They follow Bank of America Corp., which broke the size record with a $15 billion Friday sale. Other banks, including Citigroup Inc., could also look to sell debt.

After strong earnings in ...