Perps flood market as investors grab for yield

By Morgan Davis
27 Feb 2020

Perpetual tenors were in favour this week as four borrowers from Greater China sealed perps in a yield-hungry environment.

After weeks of relatively positive sentiment and seemingly insatiable investor appetite, global markets nosedived on Monday. News that the coronavirus Covid-19 was spreading outside China, with hot spots appearing in Iran, South Korea and Italy, shook investors.

As worries about the virus’s effects on the West grew, ...

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