Commerzbank straddles the long and short ends in covered bonds
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Commerzbank straddles the long and short ends in covered bonds

Dusseldorf, Germany - August 20, 2011: Commerzbank signage on tiled wall. Commerzbank AG is the second-largest bank in Germany

◆ Demand for Commerzbank deal less than expected ◆ 6bp-7bp of premium needed ◆ Senior unsecured supply glut eats up covered demand

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