Gulf Widens in Credit Markets Fraught With Danger for Investors
- Some companies are shut out of the market amid market tumult
- Investors who bought $12.5 trillion in seven years now picky
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Not since the financial crisis has there been such a divide between winners and losers in global credit markets.
It was on full display Wednesday as Anheuser-Busch InBev NV attracted a record $110 billion of investor orders and sold $46 billion of bonds on the same day that a fear gauge for the credit market jumped to a three-year high. In high-yield debt, just a quarter of the bonds in a widely followed index are trading near the benchmark’s average yield -- the least since 2008, according to Rogge Global Partners.