“The new must-have Apple accessory: its bond debt,” Ben Eisen reports for MarketWatch.
“Demand for the technology company’s landmark $17 billion in bonds didn’t stop at issuance. The bonds traded Wednesday in high volumes with prices stuck above their offering levels,” Eisen reports. “Buying and selling of Apple bonds represented more than one in every five trades in the high-grade corporate bond market Wednesday as of 2 p.m., according to MarketAxess. Some $1.85 billion of Apple trades took place Wednesday against total trading of $9.08 billion.”
Eisen reports, “That number was even higher, at 23.5%, earlier Wednesday morning as investors looked to buy Apple debt, said Jody Lurie, corporate credit analyst at Janney Montgomery Scott. ‘It’s very interesting to watch, because I can’t think of an offering that’s been so active in the morning,’ she said. ‘Everybody wants a piece of it.'”
Read more in the full article here.
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