Pipeline builds as peripheral bid increases

After what has been a relatively busy week for covered bonds, the primary market has come to a standstill as market participants look to the week ahead in anticipation of what might be in store. Secondary market traders continue to see a strong interest in peripheral European bonds, which was to some extent reflected by the successful Bankinter and Banca Popolare Di Milano taps on Wednesday, along with the warm reception Banca Carige encountered for its Eu500m benchmark on Thursday.