Bad news, what bad news?
The European financial institution bond market has taken the news of the UBS and Deutsche Bank writedowns in its stride and nothing seemed to dampen investors’ mood. In senior, the popular three year part of the curve has enjoyed yet more supply from Credit Suisse and Crédit Agricole, while HSBC and Royal Bank of Scotland have priced lower tier two debt in sterling and euros. To read more about the markets’ cheerful mood, read EuroWeek this week.
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