Negative yields are spilling over into convertibles

On the 09.10.19 at 7:54AM


Olivier Pinaud

Last week’s three issues – Edenred, Veolia and GBL – were all at negative yields. This looks like a real trend.

The negative sign is becoming commonplace in the world of convertible and exchangeable bonds. Last week’s three deals – Edenred, Veolia and GBL – all came out with negative yields, with a record -1.53% for Edenred.

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