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Funds
High grade corporates rush to issue new bonds
Thursday, August 11, 2011
Yesterday saw a flood of new corporate high-grade bond issues priced, with around $3 billion of US issuance hitting the market from issuers including Berkshire Hathaway and Dominion Resources – see Issuer Tracker. This follows several weeks of low activity in the primary debt markets, with only a handful of borrowers tapping the market. This month the high yield market has been effectively closed to all but the strongest borrowers, and European corporates have also been notable by their absence.
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Trading
Structured
CFlux secondary
CLO index levels:
| Index | 14 May |
|
| CFlux USD AAA | ↑ | 96.0 |
| CFlux USD AA | ↑ |
87.7 |
| CFlux USD A | ↑ | 85.1 |
| CFlux USD BBB | ↓ | 77.2 |
| CFlux USD BB | ↑ |
75.9 |
| CFlux USD EQ | ↓ | 76.7 |
