Dutch to set new benchmark point as 20s become the new 30s
The Dutch State Treasury Agency (DSTA) is set to issue its first ever 20 year bond on March 6, becoming the first sovereign to test a maturity that some believe could become a new benchmark point on the curve as a result of Solvency II. The fact that the euro swap curve peaks at 20 years also commends the tenor.
Bankers wonder if the European Union will opt for 20 years for its 3bn transaction which could be launched as early as next week.
"Twenty years is going to attract more interest in the future," said Rom Balax, head of SSA syndicate at Royal Bank of Scotland. "There
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