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Capital rush as banks pile into monster Thursday after TLTRO


The pressure is off FIG issuers to refinance old funding deals in 2017, after an unexpectedly heavy take-up in the fourth and final round of the European Central Bank’s targeted longer-term refinancing operations (TLTRO II). The focus has instead shifted to regulatory debt, and that’s all about picking the right spots and issuing strategically. Tyler Davies reports.

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