ECB's big appetite cheers fussy diners
High grade corporate bond investors are feeling enlivened after the European Central Bank announced bumper figures for its Corporate Sector Purchase Programme for the start of November. That bucks the trend some syndicate desks had detected, of demand starting to wane, coming out of earnings season.
Investors have been spoilt for choice in recent months, with September a record month for investment grade corporate bond issuance in euros and sterling.
Some bankers said they were beginning to notice investors coming in with smaller orders or being more selective with their choices.But ...