Volatility turns FIG primary market into a tightrope
Turbulent conditions forced several banks to delay bond issuance plans this week, and one even pulled a transaction after launch. Deal flow is likely to pick up again soon, but the cost of funding is certain to be higher, writes Tyler Davies.
There has been no shortage of bad news this year, with the coronavirus pandemic topping most lists for things to worry about in 2020.
Investors have nonetheless poured into credit, confident that central banks are underpinning valuations through their extraordinary support measures.As a result, the ...