Berkshire drops euros, breaks sterling record

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Berkshire drops euros, breaks sterling record

warren buffet 230x150
FILE- In this file photo from May 5, 2014, Berkshire Hathaway Chairman and CEO Warren Buffett laughs in Omaha, Neb. The San Francisco homeless charity that benefits from the annual auction of a private lunch with Warren Buffett hopes another buyer will be willing to pay more than $1 million for the privilege again this year. Already, Buffett has raised nearly $16 million for the Glide Foundation over the past 14 years. This year’s online auction starts Sunday and runs through 9:30 p.m. Central on Friday, June 6. (AP Photo/Nati Harnik) | Nati Harnik/AP/Press Association Images

The sterling corporate bond market has shown surprising strength for issuers in short maturities this year, but on Wednesday its traditional forte shone through — the ultra-long end, where, as so often, the curve is inverted. Berkshire Hathaway found such good funding there that it scrapped a planned euro issue altogether and raised £1.75bn in sterling.

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