European corporate bonds battered as stocks slump

Newswire

By Catherine Evans LONDON, July 24 (Reuters) - Europe's corporate bond market took a fresh battering on Wednesday as regional stock markets sank to their lowest levels since the 1997 Asian financial crisis, stoking fears of further company collapses. Dealers said yields on telecoms bonds, the largest component of European corporate bond indices, and the market's most indebted sector, had climbed between 20 and 30 basis points relative to benchmark government debt. Bond yields rise as ...

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