Swap volatility making issuers and bookrunnners jumpy

October 15, 2008 12:00 am

The Swiss market continues to stand alone, making room for a deal a day since Friday while other bond markets remain shut. The European Investment Bank, the Federal State of Brandenberg and Norwegian power company Statnett have all issued so far but trades are more difficult to perform than ever. Lead managers are watching, waiting and hoping; soft sounding, pulling back and then darting in, as swap rates play havoc with the nerves. Read EuroWeek on Friday to see who launches next.

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