SSAs on hold in foreshortened week

Instituto de Crédito Oficial and Italy are said to be eyeing the dollar bond market and the European Investment Bank and KfW are possibilities in euros but all the SSA issuers needing to fund before the summer shutdown are expected to try to get deals done next week rather than this. Today’s European Central Bank meeting, tomorrow’s non-farm payroll data and Friday’s US Independence Day holiday have conspired to prevent anything more than a couple of sterling taps this week. Read this week’s EuroWeek for views on prospects for the imminent deals.