Yen and Nordics the only show in European corporate bonds

23 Aug 2011

Deutsche Bahn, BMW, Daimler and TeliaSonera have all issued bonds this week — in Swedish kronor, Norwegian kroner and yen. The deals contrasted with the dead euro and sterling corporate bond markets and muted issuance in the US.

This week is traditionally one of the quietest in the global bond market calendar, and the depressed state of investors’ appetite for credit is doing nothing to change that. On Wednesday morning the Markit iTraxx European credit default swap indices widened again, the Main by 3bp to 171bp ...

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