Covered bond investors race to put cash back to work

By Bill Thornhill, Tyler Davies
03 Jan 2018

A plethora of covered bonds issued in the first week of 2018 met with strong investor demand reflecting the fact that buyers have considerable amounts of cash to put to work.

January's covered bond redemptions of €17bn are the highest of any month this year and, in the context of negative deposit rates and the market’s appealing relative value compared to government and senior unsecured bonds, investors were keen to reinvest all their redemptions back into the same asset ...

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