SSAs choose dollars
Nordic Investment Bank, Republic of Italy and Province of Ontario are all issuing attractively priced bonds in the dollar market this week. NIB, however, found US investors less enthusiastic with only 16% of its $1bn five year priced at mid-swaps plus 5bp selling to the US, while Italy sold 37% of its $2.5bn three year at plus 25bp into the Americas. Is US demand for tightly priced European agencies waning? Read EuroWeek on Friday.
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