Reserved start to November for US corporate market
Dollar corporate bond supply kicked off November on a quiet note after the the Federal Reserve’s two day meeting kept borrowers on the sidelines following a frantic start to the week when spreads continued to tighten and cash poured into the high-grade market.
As expected, the Fed voted to keep rates on hold, but the bigger news was the expected announcement by President Donald Trump, due at 3pm on Thursday in New York, that he had selected Jerome Powell to replace Janet Yellen as chair of the Fed.
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