FIG investors show ‘apathy’ for secondaries
Financial institution investors, desperate for any sort of yield pick-up are keeping their cash away from secondaries in the hope of earning new issue concessions in a rejuvenated primary market.
Markets have rallied since last week when issuers stormed the primary market to beat the European Central Bank’s monetary policy announcement on September 12 and Brexit, set for October 31.“Facing the deteriorating economic outlook, central banks have proved prepared to act, which has triggered a new rally ...
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