Corporates have honed in on the market's sweet spot and begun issuing further out the curve in bigger numbers, in a bid to win the attention of yield-hungry investors. Longer-dated corporate issuance picked up considerably towards the end of February, according to IFR data, although this was mainly down to US companies taking advantage of the cross-currency basis swap, which has been proving more beneficial from seven years out. Last week, however, Europe's issuers joined the party, with volumes of longer-dated euro supply - from 12 years out - reaching year-long highs.
展开▼
