Taxes for Home Based Business

Cautious optimism as corp bond supply sets record

(Adds analyst, investor comment, background)

By Canada Goose Parka Natalie Harrison

LONDON, Jan 16 (Reuters) A monthly record in new bond issuance by European corporate borrowers in January shows high spreads are Canada Goose Coats On Sale drawing in investors, although analysts warn that uk canada goose all may not be plain sailing from here.

New bond sales for investment grade uk canada goose outlet non financial companies, denominated in euros, Canada Goose Outlet has already hit a record monthly total halfway through the month canada goose clearance sale at 25.35 billion euros Canada Goose online ($33.5 billion), canada goose SG CIB data showed on Friday.

The Canada Goose Online previous monthly record was set in January 2003, when 24.85 billion was raised by companies.

credit crisis??! Despite the ill winds from the poor newsflow and banking bailouts in a throwback to the summer of 2008; the weakening macro picture and dire earnings season we in, credit is exceeding all expectations, said SG CIB credit strategist Suki Mann said in a note.

VOLATILITY NOT OVER Analysts and investors say the market will remain volatile, with some warning canada goose coats that spreads could be canada goose store driven wider in the next few months canada goose uk black friday by continued bank writedowns and forced sales Canada Goose Jackets by hedge funds.

There is also a risk that issuance could shut down for short periods.

is a concern. canada goose uk outlet No one really knows. canada goose black friday sale If the money that governments are throwing at this crisis doesn work canada goose clearance then markets are going to close canada goose uk shop again, said Joe Biernat, head of credit research at European Credit Management.

Biernat said canada goose coats on sale although there cheap Canada Goose is more deleveraging to come in 2009, it is more likely to come in pockets than huge cheap canada goose uk waves of forced selling.

the moment, everyone seems to feel that there has been too much issuance in such a short space of time and that there is some indigestion, Cheap Canada Goose coats Biernat said.

from a buy and hold perspective, I would say that these bonds are coming at good levels, he said, at a significant premium to canada goose factory sale credit default swaps and prices of existing bonds.

Borrowers have a bigger need than ever to fund in capital markets with access to bank lending much more difficult. Many investors see spreads now as pricing in dire economic conditions although investors could yet see even cheaper new deals.

a technical point of view, there is an argument to hold back from moving full scale into bonds at the current moment, because there is more bad news to surface, said Philip Gisdakis, credit strategist at UniCredit (HVB).

He expects the best time to buy financial bonds will be in about two months.

the financial side, we are close cagooseclearance to a buy canada goose jacket point where spreads will start buy canada goose jacket cheap to improve systematically over several months. The peak of the crisis for banks could be quite near, perhaps in March.

the (non financial) corporate side, I would be more careful, he said, adding the best time is likely to be in Canada Goose sale six to nine months. (Reporting by Natalie Harrison and Jane Baird; Editing by Andrew Macdonald) canadian goose jacket.