SSAs beat sovereign blues to deliver $9bn deluge
Sovereign, supranational and agency credits steamrollered through the potential roadblock of renewed volatility in peripheral European spreads to pull off a $9bn funding spree in dollars this week. Strong yield appetite, particularly in Asia, saw buyers embrace lesser known and lower rated SSA names such as Land Nordrhein Westfalen (NRW) — though the Republic of Italy had to widen its pricing.
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