Sterling HY pops after ‘hard Brexit’ speech

By Victor Jimenez
19 Jan 2017

The tally of sterling high yield bond sales in January is on course to reach £2bn, a sensational reversal from 2016’s entire first quarter without issuance in the currency, with several issues this week despite news that the UK will seek to leave the EU single market.

Leaks from the speech that the UK prime minister Theresa May had scheduled for Tuesday had already begun last weekend. As expected, May on Tuesday confirmed them by stating government support for an exit from both the European Union and the European single market.

Less predictably, sterling high yield ...

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