Macro news boosts corporate conditions as Coke and Colgate print
Macroeconomic conditions have converged to create a strong market for new investment grade corporate bond issues in Europe, with a more dovish US Federal Reserve, a potential delay to Brexit, and signs of progress in the US-China trade discussions prompting investors to turn risk-on.
Total euro supply, including high yield, so far this year stands at €66bn following a multi-tranche deal from Colgate-Palmolive on Tuesday and a €3.5bn issue from Coca-Cola on Monday. That is a 32% increase on the same period in 2018, according to Dealogic data.The market has tightened ...
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