Investors see ‘something real’ behind bank debt rally
Bank debt investors believe there is more than just a hunt for yield behind the sector’s strong performance this year, with fund managers arguing that European financial institutions have made good progress in raising capital and cleaning up their balance sheets.
There has been an impressive rally in the financial institutions bond market during 2019.
The iTraxx senior financials index has moved 38bp tighter to 110bp, while the subordinated index has come in by 71bp to 154bp.Additional tier ones have made a particularly strong contribution, with securities sold ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org