Top dollar: Issuers cash in on Yankee bonds

dollar-hat

European borrowers are taking advantage of a favourable issuance window in the dollar market – in large part due to high levels of basis between the two currencies. But would-be issuers should hurry: the arbitrage won’t be around for ever.

Non-US borrowers are currently hungry to place dollar debt with US investors, and New York banks predict that by the end of the final quarter of 2009 – a remarkable year in the bond markets by any estimation – a bumper harvest of Yankee deals will have been pr

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