High yield buyers squeezed as stalwarts switch to investment grade
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Corporate BondsHigh grade and crossover bonds

High yield buyers squeezed as stalwarts switch to investment grade

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High yield bond investors in Europe are getting squeezed from both sides, as formerly regular visitors to the market hit investment grade status, and new acquisition financings hit the loan market rather than bonds. Schaeffler’s blow-out debut in the investment grade bond market on Tuesday took out €1.5bn equivalent of former HY product.

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