Bond Binge Shows America Is Still Exceptional: Credit Weekly
There’s about $7.5 trillion of high-grade US corporate bonds outstanding, according to Bloomberg index data, more than double the size of its euro-denominated counterpart.
Photographer: Eric Thayer/BloombergPresident Donald Trump’s proposed tariffs in April stirred fears that the era of US exceptionalism was over, and European and Asian money managers would cut back on buying US corporate debt. So far, it’s not happening, and foreign investors are buying more American debt than they have in months.
Overseas investors bought about $45 billion of US corporate notes in April, the most in six months, according to the latest Treasury Department data analyzed this week by Citigroup Inc. strategists including Daniel Sorid and Mathew Jacob.