Wed 09/28/2022 12:48 PM
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U.K-headquartered high yield bond issuers such as Jaguar Land Rover, fashion retailer Next, leisure airline Jet2 and pub operator Greene King have all been subject to a pricing correction in the credit markets after sterling dropped to an historical low of $1.035 following the U.K. Chancellor Kwasi Kwarteng’s mini budget announcement on Friday, Sept. 23, fuelling even higher interest rate expectations.

Based on a rate of $1.075 at the time of writing, the pound is down by 9% over the...
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