>die Credit Markets sind vergleichsweise ruhig, viel weniger
>Bewegung als die Aktien

siehe z.B.:

Coronavirus Can't Stop the CoCo Bond Express
Bank of China managed to get away a whopping $2.8 billion AT1 sale for a rock-bottom 3.6% coupon. That’s a reassuring message in a quiet debt market.

Bank of China Ltd. achieved this feat on Wednesday, with one of the lowest coupons on record (3.6%) for any bank for this type of issue. These so-called additional tier 1 (AT1) regulatory capital bonds, known as CoCos, have tended to yield much higher in the past because because of their riskiness (the investor would bear the losses on the debt if the bank ever fails).

Though it was twice covered with an order book of nearly $6 billion, that’s actually relatively low for this type of bond sale — no doubt a reflection of its unusually vast size for an AT1. It has struggled too in the after-market as it will take some time to be digested properly.

https://www.bloomberg.com/opinion/articles/2020-02-27/coronavirus-can-t-stop-the-coco-bond-express-bank-of-china-shows