ftalphaville.ft.com/blog/2010/01 … -eternity/
For corporate bonds, a week is an eternity
“Corporate markets head for indigestion”. Oops, did we – and many others – say that, only last week?
After the busiest start to any year for sovereign emerging-market debt, it’s corporate bond investors around the world who now seem to be heading for a massive case of indigestion, as ShortView noted last week.
But – well, what do you know, here’s the FT on Monday, warning that corporates will have to start offering investors price concessions and/or higher yields to get their bond issues away:
needle
January 25, 2010, 11:07pm
#2
How the fk can Irish and Italian bonds be dropping while the Greek issue is over-subscribed x4?
Somethings brewing here.
Juicy yield? suspected back-stop from the rest of the EU? Of course it was over-subscribed. The question is not how many bids, the question is the price. This was a variable tender, not a fixed.
tickerforum.org/cgi-ticker/a … ost=125810
311 bp rich to bunds is pretty rich…
