This all comes after Trump’s tariff pronouncements sparked market mayhem in April. On Friday, Moody’s downgraded its credit rating on the US, stripping the world’s largest economy of its last triple-A rank.
The giants of corporate America from Pfizer Inc to Alphabet Inc are borrowing in euros like never before as the anxiety triggered by President Donald Trump’s tariff threats pushes them to hunt for alternative funding avenues in case their home market freezes up.
A record number of these so-called reverse Yankee deals have been sold this year at a total value of more than EUR83 billion ($121.32 billion), up 35% on 2024, according to data compiled by Bloomberg. That’s nearly 14% of overall euro corporate issuance, the data shows.
