Donald Trump is making investors scared again. The election of Trump on November 8 has pushed Treasury yields dramatically higher, scuppered bond deals, and pushed up new issue premiums. As the end of the year approaches, some bankers are now trying to discourage their clients from rushing to the market.
“We tell issuers if they have the flexibility they should wait,” said an Asian debt syndicate head. “The rate volatility is not subsiding any time soon.”
Most issuers appear to have taken that advice. But many Chinese issuers are ploughing ahead with bonds, trying to hit their funding plans before the year ends and their regulatory...
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