Rabobank: a victim of its own success

Rabobank’s status as one of the world’s few triple-A banks has given it a unique position near the top of the credit pyramid. But right at the moment, that is an awkward place to be. Rabo proved last week that it can still fund at fairly tight spreads (though nothing like last year’s) — but can it raise the volume, now that credit investors are chasing after much fatter yields on weaker banks?