Investors pour money into corporate pockets

Borrowers from every shade of the credit spectrum have been in action in Europe’s corporate bond market this week, from Wednesday’s launch by triple-A Cambridge University of a 40 year bond at a staggering 60bp over Gilts — tighter than KfW — through double-A Nestlé and single-A Air Liquide to the peripheral heavy hitters Enel, Terna, Gas Natural and Enagas.