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FIGCovered Bonds

WL Bank gets whimpering result with supply in saturated long end

WL Bank can usually be counted on to succeed where others are less fortunate but on Wednesday the German issuer tempted fate with its decision to price a 12 year benchmark. With this deal seven of the last 10 covered bonds have had maturities of 10 years or longer, where demand is more limited and more sensitive to price.

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