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The planned issue of billions of euros in subordinated bonds by Europe’s major banks was a hotly debated topic at Expert Investor Italy this week in Milan. The majority of investors from bond-prone Italy look favourable at this relatively new asset class, but speakers’ opinions were mixed.
Appetite for high yield bonds is at its strongest for almost three years: some 40% of the fund selectors our researcher met on his trip to Madrid earlier this spring will up their exposure while only 10% are going to sell. The comeback of high yield is all the remarkable considering appetite was at an…
European investors pulled 5.3bn out of high yield funds in September, while they propped up their holdings in investment grade corporate bonds and long/short debt.
