Manitoba grabs limelight in supply-starved SSA market

The Province of Manitoba was the only SSA issuer in the dollar market on Wednesday, printing a $600m five year transaction. Who will do the next trade is the problem facing the market as bankers decry the lack of issuers looking to print despite low interest rate, juicy basis swap arbitrage and an apparently enthusiastic buyer base. Export Development Canada (EDC) is rumoured seemingly every week but there is no sign of that deal going live as yet.