EU sticks flag in 20y point but SSA pipeline bare

The European Union may have established a new benchmark maturity this week at the 20 year point. But bankers fear that SSA borrowers, with the exception of the European Financial Stability Facility (EFSF), plan to step back from the markets so as to avoid a potentially volatile week when the results of the Greek PSI are due (see separate story) upon which the approval of €71.5bn of bail-out funding rides.