Bond ‘Sensation’ Should Make Investors Nervous: Matthew Lynn
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The phrase “overnight sensation” isn’t usually applicable to the bond market. But if financiers had charts the way the music industry does, the debut bonds issued by the European Financial Stability Facility last week would be in the top slot.
Designed to rescue the euro, by helping to pay for the bailouts of the single currency’s peripheral members, the issue was hugely popular with investors.