Financial supply to hit record levels as summer lull in issuance fuels appetite
Financial new issue supply is set to establish new records in September. Just two days into the month, primary issuance has already surpassed August's levels, despite historically tight secondary spreads.
And the appetite for assets exceeds supply.
The lack of issuance during the summer recess and a non-existent corporate calendar is focusing investor attention on financial institution product. With accounts seeking incremental yield in a low yield environment, issuers such as ABN Amro and HSBC
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