Investors rethink exposure as bad news trips market

12 Mar 2004

Poor economic news, volatile stock markets, fresh fears of Al-Qaida terrorism and a 30bp rally in Treasuries left bond investors floundering this week and re-appraising their exposure to corporate bonds.

With stock exchanges in London and other European capitals suffering their biggest one-day falls since last May yesterday (Thursday), credit product is unlikely to be in favour with European investors until the market stabilises.

Late on Thursday bankers were suggesting that deals being prepared for ...

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