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Big guns defy sell-off as US high grade bonds hold firm

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By David Rothnie
25 Feb 2021

The sell-off in the US Treasury and equity markets intensified this week as hopes rose of faster economic growth which could lead the Federal Reserve to taper quantitative easing. But that did not stop Japanese telecoms company Nippon Telegraph and Telephone Corp raising $8bn with its first dollar bond issue for nine years, amid a stampede for cheap funding.

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By David Rothnie
25 Feb 2021