KKR, Philips and Vesteda hope euro funds hold their nerve

By Alex Radford, Jon Hay
09 May 2019

The strength of corporate bond demand, after falls in stockmarkets engendered by the US's hardened stance on trade talks with China, was tested in the US on Wednesday by a $20bn issue for IBM. In Europe, the test came on Thursday, as five companies finished roadshows and issued. So far the signs are very encouraging - good news for the clutch of companies still on the road.

"It's obviously been unbelievably strong for some time," said a corporate bond syndicate banker in London on Wednesday morning. "The last two days have been a little bit weaker. It kind of started with the US-China Trump stuff. Yesterday there was a bit of widening, more in indices ...

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