Just like the movies, the US capital market tends to get new releases before the rest of the world. Products may eventually spread elsewhere but not before the US market has had a good look at them, added some twists, and done a few billion dollars worth of business.
High-yield debt is a good example. It’s at the cutting edge in the European fixed-income market, but for those who’ve been brought up on a rigid diet of bonds and loans the next generation of US innovations may take some digesting.
Thanks for your interest in Euromoney!
To unlock this article:
