Bund-Laender bond sets the SSA benchmark

Germany’s Bund-Laender-Anleihe was set to reopen the euro new issue market for public sector borrowers in style on Wednesday, opening books on its inaugural deal after gathering more than €2bn of indications of interest. It is the first SSA benchmark issue since the Federal Reserve spooked the markets last week by indicating it might cease quantitative easing by 2014.