Italy shuts periphery but core deals in pipeline
Italy’s inconclusive election result this week failed to dampen overall sentiment in the European FIG market. Two issuers decided the sub debt and covered bond markets were open for deals on Thursday, and low beta names are expected to re-open the senior market next week, though they may pay up for the privilege.
FIG was rocked on Tuesday by the the Italian parliamentary elections failing to produce a clear winner, or even turn up any natural coalition partners with enough seats to form a working majority.
But while UniCredit and Intesa Sanpaolos senior curves were still 20bp25bp wider on Thursday and Spanish
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