Covered Bonds
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The Hungarian deal paid almost 11%, which helped the issuer to boost the size of the bond -
Deals issued by RFLB NW and OP were less encouraging
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German, Austrian and Korean issuers planning benchmark deals
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Five deals priced in what is usually a quiet week
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Rates volatility expected as US inflation print approaches
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Two other Canadian banks are planning to follow with euro covered bonds
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Hypo Noe, BayernLB and Oma Savings Banks will compete for investor attention
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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
