SSAs turn to dollars after rates volatility shakes up demand
European agencies are tapping a rich seam of dollar demand this week, which has been spurred on by recent rates volatility at the short end of the curve. KfW is expected to price a five year deal on Wednesday, following successful trades from Österreichische Kontrollbank (ÖKB) and Swedish Export Corporation (SEK). The Asian Development Bank (ADB) is also set to price a $1bn two year floating rate note on Wednesday.
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