Sterling issuance may benefit as Carney raises ultra-dovishly

Carney Smile
By Nigel Owen
02 Nov 2017

The first UK interest rate rise for 10 years, announced on Thursday, may stimulate sterling corporate bond issuers, because the Bank of England’s accompanying statement was even more dovish than expected.

“I have been surprised by the drop in Gilt yields,” said a corporate bond syndicate banker in London. “With the five year 9bp lower and the 10 year 6bp lower, that’s an indication the market took the accompanying statement as being pretty dovish. It has been more of ...

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