Asian instos piling into new US investment grade bonds
Regional asset owners have started jumping into newly issued and highly rated US corporate bonds as they look to take advantage of wider spreads, say fund experts.
Asian investors are piling into US investment grade debt as issuance hits record levels, despite managers in the sector underperforming benchmarks in the first quarter.
Investors from the region allocated a net $1.37 billion into US investment grade debt in the first quarter of this year, following net outflows of $9.08 billion during 2019, according to data provider eVestment.
On 23 March, the Federal Reserve pledged to start buying corporate bonds, causing spreads in investmen…
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