SSAs ‘should go long’ before ECB

Euro Puzzle Fotolia 230x150
By Craig McGlashan
24 Aug 2017

Three public sector issuers brought euro deals this week, looking to get the long dated trades in, which the euro market has been the best place for, before a European Central Bank (ECB) meeting on September 7 where the central bank could hint at tapering quantitative easing. Some SSA bankers feel other borrowers should follow suit but are resisting, although that view is far from universal.

Nederlandse Waterschapsbank (NWB), Rentenbank and Unédic all cited, in varying degrees, getting in ahead of the ECB meeting as reasons for coming out this week — particularly as ECB president Mario Draghi’s speech at this week’s meeting of central bankers Jackson Hole, which is scheduled for after European ...

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