All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
FIG

A global perspective on a global asset class

Never before have different jurisdictions had such divergent experiences in the covered bond market. Since the start of the year and the European Central Bank’s Long Term Refinancing Operations, spreads in core Europe have moved ever tighter. German levels have reached sub-Euribor territory with peripheral paper trading hundreds of basis points wider after hitting record highs. Meanwhile, countries outside the eurozone have enjoyed comparative stability and experienced the same spread performance as core Europe, without suffering from the same lack of liquidity.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree