Brexit seems increasingly unlikely to corporate-debt investors
London
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel strikes Gaza city of Rafah after evacuation order
Britain's King Charles III marks first anniversary of coronation
German deficit forecast at 1.75% in 2024, says stability council
SNP veteran John Swinney set to be Scotland’s next leader
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Macron, von der Leyen press Xi on trade in Paris talks