Heidelberg slashes spread amid ‘insane’ rally

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By Alex Radford
19 Jun 2019

The rally set off European Central Bank president Mario Draghi's assertion on Tuesday that further quantitative easing was possible, if not probable, had reached a level by Wednesday that astonished bankers. Three investment grade companies took advantage that day with benchmark bond issues, while one brought a tap.

“It was crazy how it boosted the market, especially on the equities side,” said a banker away from Wednesday's deals of Draghi's remarks. “But there was also a significant move on the credit side of up to 5bp in the indices. So I think the market has quite ...

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