Market Views: What to buy in the US corporate bond market?
High-yield sales are still a fraction of investment-grades but fund managers tell AsianInvestor they are seeing more opportunity in BBB-rated bonds and lower, rather than higher grades.
September has seen record enthusiasm from both issuers and investors participating in the US corporate bond market.
While the week after Labour Day in the US historically tends to be busy in debt markets, this year's had one of the highest weekly issuances on record in the investment-grade primary market, with $78 billion worth of bonds being issued - more than half the total $150 billion to $160 billion expected for September.
Companies are incentivised to take advantage of the…
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