New era for bond pricing as corporates, banks push deeply negative

Europe Dawn Fotolia 230x150
By Alex Radford, Bill Thornhill, Jon Hay, Tyler Davies
22 Aug 2019

Europe's bond market reopened for the autumn issuance season this week — but it is a new bond market. The summer's queasy bout of bearishness has pushed government bond yields to unprecedented lows and these are now for the first time being tested as a platform for private sector bond issuance.

Each segment of the bond market is standing on the precipice of negative yields, wondering what to do — and each has moved in a different way this week.

Banks, when it comes to senior funding, have so far not tried bringing negative yielding issues, for fear of perturbing ...

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