Debt ceiling drama in US cramps SSA dollar style
The benchmark debt market underlined its reluctance towards all but the supranational elite this week as KfW had to settle for a $1.25bn Eurodollar deal on Thursday. Although the Goldman Sachs and UBS-led four year was increased from an initial $1bn, it replaced a potential three year global in the face of challenging conditions for even a triple-A German agency.
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