Europe expects: senior market awaits Greek vote
No bank was brave enough to venture into senior unsecured on Tuesday morning, as market participants watch and wait ahead of Wednesday’s crucial austerity vote in Greece, the outcome of which will determine whether or not the debt-stricken country receives a second bailout. But with secondary flows down, cash-rich senior unsecured investors are hungry for primary market action, said bankers.
Issuers said it would be unwise to enter the market unless absolutely necessary while conditions were so volatile.
I think its very weak, said a head of funding at a northern European bank. Im not sure its particularly sensible to put your toe into the market if you
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