Supras hit seven year bid as market prepares for CNY wind down

A pair of supranationals hit the bid for seven year dollar benchmarks at a small spread to mid-swaps this week, after dollar curves flattened in the wake of the European Central Bank announcing a programme of bond buying in late January. The issuers took advantage of strong market conditions ahead of markets shutting down next week because of a holiday in the US on Monday and the start of Chinese New Year holidays later in the week.