Sub-Libor in sight with MüHyp jumbo

Münchener Hypothekenbank priced a Eu1bn three year jumbo public sector Pfandbrief at 1bp over mid-swaps on Tuesday, the tightest level for a sizeable covered bond since its last deal in August 2008. This week’s deal came as Abbey National Treasury Services completed its third and largest covered bond of the year, as the asset class remained buoyant a month into heavy autumn supply. Read EuroWeek on Friday to find out more about the dynamics driving the different segments of the market.