Apple causes indigestion in dash for cash
The dollar bond market was brought crashing down from its high this week, after a poorly received trade from Apple on Monday sent investors scampering to the sidelines in one of the busiest weeks of the year for supply. Oracle restored some order and Johnson & Johnson (J&J) bucked the trend later in the week, but UPS still found the going tough when it came to market on Thursday.
Apple stunned bankers and investors alike when it hit the market on Monday with a $7bn deal that brought its total issuance for the year to $30bn.Apple’s move left many scratching their heads, as it came ahead ...
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