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