Brexit seems increasingly unlikely to corporate-debt investors
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THE corporate-bond market is signalling that investors expect UK voters to reject leaving the European Union (EU).
Growing confidence that the nation will avoid a Brexit, and the resulting economic uncertainty, means investors are accepting narrower premiums to hold debt denominated in sterling instead of euros. The new-issue market has also revived, with companies including Next plc and Travelodge Hotels Ltd selling £2.5 billion (S$5 billion) of bonds in the last three weeks, according to data compiled by Bloomberg. That compares with £1.5 billion in the preceding five weeks.
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