The bond party is getting raucous

Rampant bond-buying could well end in a hangover for investors.

The relief rally as the Crimean crisis eased this week extended to corporate bonds. Tuesday saw nearly $20bn of issuance from 13 blue-chip firms, ranging from Gilead Sciences to Coca-Cola.

It was the busiest day for high-grade US corporate paper since Verizon's $49bn offer last September, which remains the biggest company bond deal on record. Firms were keen to borrow after a dip in yields, which move inversely to prices.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.