Banks, industrials jostle in sizzling $ party

10 Feb 2012

US borrowers and investors seemed equally eager to dive into the dollar bond market this week, with the result that February has got off to a roaring start. The $43bn of investment grade issuance so far this month is the fastest start to a month since December 2008.

As marquee US borrowers like AT&T, Freeport-McMoRan and Walt Disney lined up to issue, yields remained near all time lows and hungry investors piled in.

Although the impasse over Greece’s sovereign debt hovered over the market, many expect a deal to be reached and the travails appeared only to ...

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