Ico basks in Draghi effect with short end deal

Instituto de Crédito Oficial saved precious basis points on Tuesday, printing a short two year deal against a backdrop of falling periphery eurozone sovereign yields following some very dovish comments by European Central Bank president Mario Draghi late last week — despite some ECB officials being more hawkish since. Spain also benefitted at a bill auction the same day, while Portugal lined up an exchange offer and Italy unveiled its target for a bond auction on Thursday.