Pfizer prints $4.5bn as issuers rule US bonds

By David Rothnie
15 May 2014

US corporate bond issuers had the whip hand this week, as US Treasury rates fell, issuance was in short supply and redemptions filled investors’ pockets with cash.

Pfizer, the drugs group trying to buy AstraZeneca, led the charge, printing a $4.5bn deal on Monday.

Conditions remained strong on Thursday when poor economic data from Europe pushed the 10 year Treasury yield to its lowest level this year.

“With the 10 year Treasury falling below ...

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