High times for high grade as SSAs learn to live with tough times
A barnstorming week for supranational and agency borrowers defied dicey conditions in peripheral sovereign markets and looks to have set the precedent for weeks to come, say SSA bankers. Investors have displayed a renewed resilience when considering new bond issues that was absent last year in the face of comparable volatility, write Ralph Sinclair, Jo Richards and Tessa Wilkie.
"The market wont shut down like it did last year," said an SSA syndicate manager considering the prospect of a spate of holidays next week followed by Greek elections the week after in addition to the already poorly state of Spanish and Italian government debt markets.
Investors have grown
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