Supply at a trickle

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A glimmer of hope sprang into the corporate bond markets towards the end of last month when General Motors Acceptance Corp lit up a very dull February.

For Andrew Porter, head of European syndicate at HSBC, the deal offered some comfort to a stagnant market by giving participants a new and specific name to focus on. “Investor appetite is still there, but the scepticism they have is whether spreads can tighten even further,” he says.

Looking forward, he suggests that the market will recover in

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