UPDATE 1-US high-grade bond market sets one-day record

(ADDS details) By Andrea Johnson

Nov 5 (IFR) - The US high-grade bond market set the one-day record for dollar volume on Monday, as issuers sold $22.1 billion of debt on the eve of one of the tightest presidential elections in memory.

The day's tally included the biggest debt sale in US corporate investment-grade history, a $14.7 billion deal from pharmaceuticals giant Abbott.

The surge of trades spoke to an unusual confluence of factors - last week's devastating mega-storm, historically low interest rates, and market trepidation ahead of Tuesday's vote.

The market has seen a whopping $47.45 billion in debt sold in three business days, with companies moving swiftly ahead of the knife-edge election.

Presidential elections almost always have a strong effect on the credit and equities markets. The Dow lost 5% the day after Obama's 2008 win.

(Reporting by Andrea Johnson and Christopher Reich; Editing by Marc Carnegie and Ciara Linnane)

((andrea.johnson@thomsonreuters.com; Reuters messaging;)(andrea.johnson.thomsonreuters.com@reuters.net))