IG secondaries spur records but fears grow about reckoning

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By Mike Turner
22 Oct 2020

High grade corporate bond spreads face a rocky few weeks after six months of consistent tightening, as coronavirus lockdowns and corporate earnings blackouts contribute to increased short term volatility.

The autumn surge in coronavirus cases across the West has rattled markets. A rise in infections was expected, but shifts in official responses was not.

“What appears to have changed is not so much the latest announced restrictions,” said Matthew Bailey, European credit strategist at JP Morgan, in a ...

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