PMM: New issue concessions on the rise

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PMM: New issue concessions on the rise

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Family wearing face mask in shopping mall in Asia. Mother and children wear facemask during coronavirus and flu outbreak in China. Virus and illness protection. Kids in masks in public crowded place. | Family Veldman/famveldman - stock.adobe.com

Investors in Europe's high grade corporate bond market became increasingly selective last week. Average new issue premium shot up to almost 11bp from minus 2bp the week before. The move gave some insight as to which sectors of the economy investors see the pandemic recovery taking place in.

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