Senior drifting wider but market confident
Despite some widening in the week’s new senior deals on Friday, bankers were upbeat about the prospects for supply after the weekend. With the release of US non-farm payroll data due at 1.30pm London time, issuers were reluctant to take execution risk in launching a deal. But after seeing €9.75bn of issuance in senior unsecured since last Friday, market participants were glad of the break.
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