.jpg)
Key information:
- Euro-based investment-grade corporate bond sales reached a record €30.6 billion following the ECB's announcement of a new stimulus package on March 10.
- The 24th version of Europe’s investment grade benchmark closed at 68 bps on March 11, its tightest closing spread since September’s index roll.
- The British steel industry suffered a blow on March 30 when Tata Steel revealed it was planning to sell its UK factories, citing high manufacturing costs, competition from China and a global oversupply as reasons.
The European Central Bank announced a series of fiscal measures aimed at reviving the eurozone economy on March 10. The latest ECB policy package includes: deeper interest rate cuts; a new series of four targeted longer-term refinancing operations with a four-year maturity; and expanded monthly asset purchases, which will now extend to investment grade euro-denominated bonds issued by non-bank corporations.
Click here for full details.
