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FIGCovered Bonds

Renewed ECB buying and supply drip to keep squeeze on covered bond spreads

ECB adobe stock AS 230x150

The European Central Bank bought fewer covered bonds in May than it did in any month this year so far but its portfolio still grow and may do so by even more in June. With supply still likely to be limited, this should keep prospective spread widening contained ahead of a supply glut in the sovereign, supranational and agency sector.

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