Neither art nor science, more guesswork: corporate bond pricing goes wild
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Corporate BondsHigh grade and crossover bonds

Neither art nor science, more guesswork: corporate bond pricing goes wild

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The uneven way the coronavirus crisis has hit industries and their credit spread curves is piling pressure on bond syndicate desks, which are finding it increasingly difficult to pinpoint the right levels at which to begin price thoughts for new issues — leading to some eye-popping pricing moves during execution.

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