Fed holds fire, helps May get off to a flyer

By David Rothnie
04 May 2017

May got off to a sizzling start in the US bond market this week as 15 companies including Apple and Unilever printed nearly $30bn of bonds as the earnings shackles came off and the US Federal Reserve kept policy rates on hold.

Apple led a procession of issuers which laid waste to the claims from some analysts that supply might be slowing down as corporate borrowers bombarded the market.

“Corporates are out of earnings blackout, yields are 15bp more attractive from an investor perspective than they were a week ...

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