The European Commission has called on regulators to push for transparency and fairer allocations in the high-yield market.

A newly released report by the Commission’s expert group on corporate bonds said the high-yield allocation process is “not systematically communicated to other banks and to the borrower, and is thus more opaque”.

As reported by the Reuters news agency, the high-yield allocation process is typically run by one bank, often labelled “lead left” or “billing and delivery” (...

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