Corporate bond investors 'freaking out' at ECB amid 'unhealthy' market

By Mike Turner
21 Jan 2021

Europe’s high grade corporate bond investors are sounding the alarm that parts of the market are starting to look frothy, as the European Central Bank on Thursday gave no indication of any slowdown in its relentless bond buying programme. Mike Turner reports.

On Thursday, Italian multi-utility Acea, rated Baa2/BBB+, came 15bp inside fair value on both tranches of a €900m dual tranche green trade, adding to the string of negative new issue premiums paid in recent weeks from issuers including UK supermarket Tesco, Swiss building materials producer LafargeHolcim and La ...

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