Busy Bs dominate in dollars before Fed meeting
Investors bought into attractive yields from triple-B rated issuers that jumped into the US corporate bond market ahead of the Fed’s well flagged announcement that it would reverse quantitative easing.
The US Treasury market sold off on Wednesday after the Federal Reserve kept rates on hold, but hinted at a hike in December. It also said that it would begin to shrink its balance sheet in October.
But Treasuries rallied on Thursday and credit markets largely shrugged
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