Buy bonds, not equities
- From: Vol 9, Issue 10 (October 2008)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: HSBC and Ofwat
HSBC sees better value in bonds than equities at the moment. In future, the biggest issue for investors is the extent to which Ofwat pushes competition.
It is better to buy UK water debt than equity in the current market, according to HSBC analysts Verity Mitchell and Rodolphe Ranouil. In a timely piece of research reviewing the regulated water utilities ahead of the next price review, the analysts conclude that the risks of raising the £24 million proposed investment programme are more appropriately priced in bond ...
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