We last featured the Enterprise Inns 6.5 per cent 2018 (ISIN: XS0163019143) as the Bond of the Week in August 2010. Since then, government bonds have headed higher, lifted by the prospects of low interest rates for some time to come. The upward move in gilts has dragged the high-quality end of the corporate bonds along with it. However, the more speculative end of the bond market is typically equity-correlated, and prices in these sections have headed lower as risk-averse investors avoid bonds with perceived risk of default.
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