Covered Bonds
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Eurozone banks have returned to the bond market, but it remains fragmented: small issuers are out in the cold
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Curve shape should help demand at long end
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Rates issuers' funding is well advanced boding well for medium term spread stability
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BPCE issued its largest deal of 2023 as DZ priced flat to its curve
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Funding conditions in the sterling covered bond market have improved on a relative basis, nearly closing the unfavorable differential to euros
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German and French banks to test demand and concessions for core eurozone covered bonds, as Slovakia's VUB goes shorter
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Dutch agency BNG ends nine year absence as issuers price through fair value
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Premiums to rocket but how high? Euro locals leave it to international banks in covered bond market in aftermath of Credit Suisse affair
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Korean issuer's deal was widest of week but did not set investor hearts aflame given pricing constraints
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Japanese issuer offers higher spread and yield due to contractual structure of its deal
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Wednesday’s deals were 'copycats' of those from peers the day before
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Structured covered bond will offer far higher spread than recent deals from Australia, Canada and Europe