Fixed Income

UBS offers to buy back certain outstanding tier 2 and senior bonds for cash up to approximately CHF 2.15 billion.

In a paper produced as part of the research chair on “The Case for Inflation-Linked Corporate Bonds: Issuers’ and Investors’ Perspectives” at EDHEC-Risk Institute, supported by Rothschild & Cie, EDHEC-Risk researchers have provided a comprehensive analysis of the sources of added-value of corporate bonds for institutional investors.

The African Development Bank (AfDB), a leading multilateral development bank, rated Aaa/AAA/AAA, and Nomura, Asia’s global investment bank, today finalized the terms of secondary distribution of AfDB’s education support notes to Japanese retail investors.

The rise in the yield of the 10-year TNote has been impressive since the start of May, up from 1.60% to 2.90%, its highest level since July 2011 (TNote contract has shed around 6%). The steepening of the US sovereign yield curve has been just as impressive, as the 10-2Y spread has widened to 250bp from around 140bp at the start of May.

In a survey entitled ‘Reactions to “A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures”’ researchers at EDHEC-Risk Institute have analysed industry reactions to a previous EDHEC-Risk study on corporate bond indices...