Asian and European firms have rushed to buy U.S. corporate bonds, attracted by higher yields and falling costs for hedging currency risk
Overseas investors are flocking to buy U.S. corporate bonds, aiding a recovery in credit markets that were thrown into disarray by the pandemic.
Steps taken by the Federal Reserve to keep credit flowing through the U.S. economy, combined with the more attractive yields offered by American corporate debt, have drawn Asian and European investors since late March. Currency-hedging costs have also dropped for international investors, propelling demand.
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