KfW returns with classic global but swap spreads may constrain supply
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KfW returns with classic global but swap spreads may constrain supply

German agency KfW printed on Tuesday the only the second SSA dollar global benchmark since July. The deal starved dollar market took the paper 2bp through initial price thoughts. But senior SSA bankers suspect the meagre returns to US Treasuries that the sector can offer investors may hinder forthcoming supply.

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