Whether you’re a government or a company in Europe, the U. S. or Asia, it’s a great time to sell bonds. Around the world, bidders are snapping up almost anything with a yield.
Auctions of long-term debt by the U. S., Spain and Portugal all drew strong demand Wednesday, with the Treasury sale seeing unprecedented appetite from one class of investors. Japan sold 30-year notes Thursday at a record-low 0.319 percent. Buyers are also clamoring for company bonds, in a week that may be the busiest this year for corporate borrowing in the U. S. and Europe.
This post was published at David Stockmans Contra Corner on May 12, 2016.
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