Records tumble in US as Procter & Gamble, IBM enjoy lowest yields ever across curve
Funding costs for highly rated companies broke records in the dollar market this week, as firms like IBM and Procter & Gamble obtained all time low coupons from investors pouring cash into the market.
Supply was not too heavy, so investors could focus on a few high quality benchmark corporate issues from the likes of Praxair and McDonalds.
"There is a food fight among investors for credit product," said Jim Turner, head of debt capital markets for the Americas at BNP Paribas in
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