Central bank concerns send corp bond investors on yield hunt
The direction of central bank policy is increasingly coming to govern Investment grade and high yield bond investors' hunt for yield, with many of the latter now looking to triple-C rated paper to better hedge against the risk of rate hikes.
In the first three days of this week, six deals have been launched by investment grade corporates in European bond markets. All have been comfortably oversubscribed, but deal sizes are falling and bankers are having to hunt to find more deals to satisfy investors.
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