Bank credit wobbles as rates market takes a hit

By Frank Jackman, Tyler Davies
26 Feb 2021

Subordinated bank bonds were under pressure on Thursday and Friday, as risky assets fell victim to the same volatility that has been plaguing rates markets for weeks.

“To an extent we are victims of our own success,” said a credit strategist.

“The rapid development of a suite of outstandingly successful vaccines, with efficacy rates well beyond what we would normally expect, has allowed us to dream of recovery. For bond market investors, though, those dreams ...

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