Global corporate bond issuance has risen above the $1,000bn mark – the first time it has broken through this threshold in a single year – with four months remaining of 2009.
The boom is because of the difficulty companies face in obtaining bank loans and strong demand from investors, who can gain a big yield pick-up on corporate paper compared with government bonds.
Investors have switched more of their cash into corporate bonds because they offer better returns than the low interest rates on bank deposits and savings accounts.
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