Cantonal banks make the most of Pfandbriefzentrale absence

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Cantonal banks make the most of Pfandbriefzentrale absence

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Switzerland's cantonal banks enjoyed an open window this week thanks to Pfandbriefzentrale's extended stint away from the market. Elsewhere, the Canton of Zurich was able to harness the lack of sub-sovereign supply to land at an aggressive level versus govvies.

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