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FIGCovered Bonds

Non-core pipeline builds after strong tone set by Abbey

Non-core eurozone issuers are set to play an increasing part in the covered bond market as the European Central Bank (ECB) purchase programme drives yields towards new lows. While minimal new issue premiums and negative spreads have not yet deterred investors – oversubscription rates were up this week – bankers are debating if the inflection point is in sight.

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