US equity-linked puts Europe in the shade

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US equity-linked puts Europe in the shade

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Traders work on the floor of the NYSE before the closing bell at the New York Stock Exchange on Wall Street in New York City on June 25, 2018. The Dow shed 328 points and was down almost 500 points at one point in the day. Photo by John Angelillo/UPI | JOHN ANGELILLO/UPI/PA Images

Europe’s equity-linked bond market has been anaemic this year, in both performance and volume of issuance. Yet in the US, tax reforms, rising interest rates and share prices near record highs have created a booming market for convertible bonds which shows little sign of abating, writes Aidan Gregory.

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