Balance sheet repairs aid corporate paper

In recent weeks, financial markets have been preoccupied by geopolitical factors. Moreover, the economic impact of any conflict is extremely difficult to quantify. Certainly, investors in corporate bonds could be forgiven for remaining somewhat nervous in this environment, bearing in mind the already fragile state of the world economy and the squeeze on corporate profitability. However, it is all too easy to overlook the fact that there are some positive forces in play which augur well for corporate bond markets in the longer term. Investors have already begun to recognise the effort...