Draghi improves covered value, but woes remain
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Covered Bonds

Draghi improves covered value, but woes remain

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The slightly dovish policy statement that followed Thursday’s European Central Bank policy meeting caused the Bund-swap spread to widen, restoring a little value in covered bonds. But the spread is still a long way from the widest levels of last month and, if the spread tightening resumes, covered bond sellers could come out in force just as post-summer supply hits the screens.

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