Book sizes shrink as corporate investors show ‘serious fatigue’

Blank Order Book
By Mike Turner
21 May 2020

The high-grade corporate bond market saw some heavily subscribed deals this week, but there are concerns from some corners of the market that primary issuance is showing signs of fatigue.

German kidney dialysis firm Fresenius Medical Care, US telco AT&T and Italian luxury car maker Ferrari brought deals in euros in a week with reduced issuance because of public holidays. Southern Water Services, the UK utility, issued a sterling trade.

All of the issuers in euros moved their deals ...

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