Americas
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Deals with shorter-term loans have become more popular as borrowing costs remain elevated
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Canadian issuer prints the largest SSA sterling bond since January
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Issuers target both the short and the long ends of the dollar curve
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Issuer prices with limited concession in its first deal since 2021
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The collateral pool features a high average FICO score, a moderate leverage level and large liquid reserves, according to Fitch
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◆ Santander Consumer Bank seals 35bp move ◆ 10bp-20bp concessions needed for senior prints ◆ Pipeline slows as issuers enter 'monitoring mode'
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The transaction is the third HELOC RMBS priced in a month
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Tom Wipf stands down after four years leading introduction of Sofr
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Region’s private sector returns to international bonds, with IG issuers paying minimal concessions
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◆ UK bank shows affinity for tier two dollars ◆ Improved US market lures foreign bank capital issuers ◆ US market has great depth
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Rebound in activity might be short-lived as fundamentals remain weak
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Dollars and Aussie dollars offered more competitive funding