Deposit rate cut’s silver lining for peripheral issuers
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Deposit rate cut’s silver lining for peripheral issuers

The ECB’s recent deposit rate cut from 25bp to zero and the subsequent plunge in offered levels for short term debt might be hurting bank finance markets as money market funds dry up. But the cut could have a welcome side effect for peripheral eurozone countries and lower-rated SSA borrowers, as investors and fund managers alter their strategies to find yield.

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