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Bond Comments

Smiles and praise in dollar agencies, as KfW prices oversubscribed benchmark

German government-guaranteed agency Kreditanstalt für Wiederaufbau (KfW) brought some cheer to the markets amid the week’s gloom by pricing a $3bn three year deal that was well oversubscribed. The bonds then tightened on the break, in the teeth of widening swap spreads.

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