The world is awash in cash. Certainly enough cash sloshing around out there to continue to fuel the bull market for some time to come.
"Ridiculous": $1 Trillion In Orders For $7 Billion Chinese Bond
When Shanghai Pudong Development Bank sold $7 billion in convertible bonds last month, investors placed more than $1 trillion worth of orders, making this a 140 times oversubscribed offering, enough to shock even the most seasoned China investor, the FT reports.
That $1 trillion in bids was almost as large as the entire stock-market capitalisation of Apple or Microsoft — the two biggest companies in the world. "It was a ridiculous amount," said Gerry Alfonso, head of research at Shenwan Hongyuan Securities in Shanghai. It is also a testament to how desperate the world has become in chasing yields and return, as well as just how much excess liquidity there is in the market at the moment
zerohedge.com
the world is awash in cash
Started by
da_cheif
, Nov 12 2019 10:47 PM
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Posted 12 November 2019 - 10:47 PM