Sterling
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ABS, and euro and dollar covered bonds, may be preferred instead -
Caterpillar takes £500m a day after Mercedes-Benz reopens market
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UK issuer is latest to use the market to diversify its funding lines
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The focus will be on currencies other than dollars
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The first batch of European corporate earnings have shown multi-year weaknesses
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Tightly trading bonds look ripe to gap wider as conditions expected to deteriorate
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Investors forced to accept deals priced close to secondary curve as supply dwindles
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Borrowers push out maturities, printing bigger size across conventional and labelled deals
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Central bank money is gone and rising rates are hacking at corporate credit quality
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UK achieves second largest order book ever for linker sale
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Issuer has already been active in the currenty earlier in the year
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Long-dated bonds to be tapped and issued, Greece mounts tender offer
