Covered bonds weaken on heavy selling flows

falling money
By Bill Thornhill
05 Jan 2018

The covered bond market looked weak on Friday with dealers reporting heavy selling flows as clients switched into new, cheaper bonds and reduced exposure in new issues where they had been over-allocated.

“We’ve seen some heavy selling with quite a lot sellers in French and Scandi, UK and Dutch names," said one trader on Friday.

A second dealer agreed. He said that he had also seen selling interest in Australian paper.

“I expect we will see more heavy supply next ...

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