CCDJ looking good amid hopes of core covered supply

After mandating leads on Monday, Fédération des Caisses Desjardins du Québec (CCDJ) opened order books on Wednesday for its first dollar deal in over a year and the first dollar covered bond since May. In the meantime, investors were waiting for Sumitomo Mitsui Trust Bank's first deal amid renewed hopes that a core European issuer will mandate before the end of the week. With redemptions mounting, there are hopes that other issuers will pounce on the market early in the fourth quarter.