Companies’ continue to respond to the ECB’s corporate sector purchase programme
After a sharp increase in corporate bond issuance following the ECB’s announcement in March this year, corporates continue to respond to the Corporate Sector Purchase Program.
Corporate bond issuance is continuing to pick up for a third month on a trot. We are interpreting this to mean that companies are responding to the ECB’s Corporate Sector Purchase Program. There still remains to be seen what companies do with the cash obtained, to be able to evaluate the effectiveness of this new program.
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