The collapse in bond yields means the European corporate hybrid market is close to witnessing its first sub-1% new issue. Yes, that's corporate hybrids - an asset class specifically designed to be risky enough to pay a decent return. Last week, German utility EnBW priced two €500m tranches at record lows, with a 60-year non-call 5.25-year printing at 1.125% and a 60-year non-call eight-year at 1.625%.
展开▼
