KfW in tough 10 year as rally rouses risk takers

KfW benefited from the growing anxiety among investors over the sustained rally in US Treasury yields this week by issuing a $4bn 10 year global, its second outing in the format this year. Plunging yields are forcing investors out of short-maturity safe havens and Treasuries, said dealers, and the German agency is one of the very few issuers which could tempt investors out to a 10 year maturity.