Bond market bites its nails as Asian banks move into loans
Aéroports de Paris won praise for getting its €400m deal done this week, while the European corporate bond market senses that it’s now or never for EU leaders to rescue the euro. Few in the market can muster much hope about the summit meeting’s outcome — and disappointment could lead to a market rout.
However, bonds and stocks have so far held on to the past months gains and on paper, the investment grade new issue market is in its best shape since June. After top-flight peripheral issuers returned in the past fortnight, Energie Baden-Württemberg sold its long-awaited hybrid issue on Monday.
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