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Tight bond spreads spark buyside strike

Raft of tightly-priced deals have led investors to shun the corporate debt market

Corporate bonds bankers have become victims of their own success after a recent crop of tightly priced deals led investors to shun the market in protest at low yields.

Despite this, last week was still the busiest for euro-denominated corporate bonds so far this year, with non-financial transactions totalling just under €9bn. But last Tuesday the pace of issuance slowed: three transactions totalling €1.25bn were priced in the final three days of the week.

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