Corporate market deflects duration risk as ECB ramps up

By Ross Lancaster
26 Jan 2017

Despite months of grumbling about duration risk, corporate bond buyers are still taking down long dated euro offerings, with investors swelling the order books for a 10 year Deutsche Telekom trade this week. But some of the attention previously lavished on the long end is now benefiting crossover credits, writes Ross Lancaster.

Investor concerns over duration risk have been rippling through the investment grade corporate bond since last October. But the long end is still open to all ratings bands, as Deutsche Telekom showed this week with a €1.25bn 10 year tranche of triple-B rated paper — part of its ...

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