DOES AMERICA LIKE THE ECU?
Last year, for the first time, investment bankers managed to sell $800 million in non-dollar denominated Yankee bonds to US institutional investors. But the question remains: can there be a successful market in the heartland of America for such exotic paper?
Bankers are promoting this new business hard. But a special Euromoney survey of 100 randomly-selected money managers turned up fewer than a dozen who are excited by non-dollar Yankee bonds.
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