Draghi Smashes Corporate Yields to 1% Before a Bond Is Bought

  • A rush for company debt as ECB readies to start purchases
  • ‘Very scary’ prospect for some; push into speculative grade

Mario Draghi, president of the European Central Bank.

Photographer: Martin Leissl/Bloomberg

Even before Mario Draghi starts his corporate-bond buying program on Wednesday, he’s pushed down borrowing costs in Europe toward unprecedented levels.

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