German investors get hyped up over DG

German bankers, who had been busy nursing sore heads after celebrating their country’s World Cup victory last Sunday night, will not have been overly taxed by DG Hypothekenbank’s drive-by Pfandbrief syndication on Monday. Being the rarest issuer from one of the most technically squeezed jurisdictions in Europe, a strong outcome was never in doubt. Painkillers were however required for the allocation process.