SSAs creep into banks’ back yard

Last year’s fear that sovereign, supranational and agency issuers could begin to encroach on FIG issuers’ share of the CP market appear to be becoming a reality in 2011. SSA issuers sold $700m equivalent more ECP on Monday than banks, which are traditionally the market’s dominant issuer base. Dealers say rates need to rise in the front-end markets. Should banks be leading the charge? Read EuroWeek on Friday.