Stability and spreads entice buyers back into US bond market
Coca Cola Enterprises priced a well received $1bn long five year trade this week that was seized on by syndicate bankers as illustrative of positive sentiment in the US high grade market. Dealers welcomed the semblance of stability offered by Federal Reserve and Treasury bail-out measures that afforded a wide variety of accounts the time necessary to assess new issues and the chunky yields on offer.
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