Riot in corporate bonds as investors swarm over deals

Corporate bond buying is becoming a compulsion. So it seems, at least, to syndicate bankers, astonished by investors’ appetite for corporate paper of all kinds. The weight of money in fund managers’ hands is so great that many feel they have to buy, whatever fears they still have about Europe’s economy. That pressure is pushing down on spreads in the secondary market — but above all, investors want to buy new deals.