FIG desks more optimistic as bid-offers narrow
FIG bankers are pessimistic about the prospects for any primary supply this week ahead of Thursday’s ECB rate decision and Friday’s US non-farm payrolls data, but at least could be a little more upbeat than before about supply prospects come Wednesday, with a more solid tone prevailing in secondary trading.
Senior unsecured paper was trading flat to slightly tighter on Wednesday morning compared to earlier in the week, but syndicate bankers were focusing on a narrowing of bid-offer spreads after two volatile days with very little flow.
“I’m actually quite positive on the periphery,” said one FIG syndicate
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