Global corporate bond fees jump 24% to hit new record high of $10.6 billion
The US Federal Reserve and the European Central Bank have injected unprecedented stimulus into the market, including through corporate bond purchases, making them an attractive fund-raising tool for companies
FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York City, US, March 18, 2020. REUTERS/Lucas Jackson/File Photo
Investment banks raked in record fee income from managing corporate bond issues in the year to end-April, data from Refinitiv showed, as companies scrambled to raise money to help see them through the Covid-19 crisis.
Corporate bond desks earned $10.6 billion in fees in the first four months, a 24 percent rise from the same period in 2019 — itself a record — the data showed.
The US Federal Reserve and the European Central Bank have injected unprecedented stimulus into the market, including through corporate bond purchases, making them an attractive fund-raising tool for companies.
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