KfW gets €4bn away as EIB increases EARN ahead of FOMC decision

KfW took advantage of a clear issuance window on Tuesday to bring a long-awaited euro benchmark, shrugging off uncertainty over how fast rates will rise in the run up to the Federal Open Market Committee’s meeting on Wednesday. The result was hailed as “encouraging” by market participants who also had the spectacle of a €1bn tap of the EIB’s recent 10 year EARN to take comfort from.