The following is an excerpt from Shankar Ramakrishnan | November 10, 2016 | Time.com |
The US bond markets is eyeing the potential benefits of a Trump administration.
The floodgates burst open anew in the US high-grade bond market this week after Donald Trump won the White House, led by issuers in sectors expected to benefit most under his presidency.
After a two-day hiatus for one of the most momentous elections in recent memory, six borrowers jumped back into the primary, including JP Morgan Chase and Goldman Sachs.
Just hours later the Trump transition team vowed to “dismantle” Dodd-Frank, sending bank shares rocketing higher and driving financial institution paper some 3bp-5bp tighter.
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