On Wednesday, Penske Truck Leasing (Baa2/BBB+) hit the market with a $750m five year trade that tightened by 25bp to print at 85bp over Treasuries. Bank of America, JP Morgan, MUFG, US Bancorp and ...
The rates market has traditionally been the bastion of stability in bond markets. Its biggest component — sovereign bonds — provide the risk-free rate and bedrock in any given currency. But that ...