ECB to dominate covered bonds despite tapering
The third covered bond purchase programme (CBPP3) will continue to exert a strong influence on the covered bond market for at least the next three quarters, though a material change could well start to impact the market in the latter part of next year.
The much hyped October 26 European Central Bank policy meeting did little to change the outlook for covered bonds. The central bank is expected to continue buying covered bonds much as it has done in the past.
By the end of this year it is likely to own
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