Ten year covered trio get traction but concerns remain

By Bill Thornhill
11 Jan 2018

A trio of 10 year covered bond deals issued this week showed that interest in this tenor is less uncertain than initially feared. But, in a rising yield environment, investors are likely to become more defensive and this demand risks being short-lived.

Erste Group, Société Générale and NordLB helped rejuvenate the tarnished 10 year tenor this week after it had lost its lustre following thinly subscribed deals issued the previous week by Compagnie de Financement Foncier ...

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