Novartis, Total and Vodafone star as Fed juice powers US bid
Highly rated Yankee corporates like Novartis and Total raided the US bond market this week to lock in financing at record low rates as investors continued to pile into high grade credit, spurred by a fresh bout of monetary easing.
Last weeks sharp sell-off in Treasuries after the simultaneous policy stimuli by central banks to revive the global economy has helped the bid for investment grade credit.
"Central bank action is encouraging investors to move out of cash and the major beneficiary is fixed income," said Jim Turner,
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