CB reliance on ECB bodes ill for spreads, say investors
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CB reliance on ECB bodes ill for spreads, say investors

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Covered bond investors believe spreads may widen, as sovereign bond yield rises shave off the relative value offered by the asset class and the European Central Bank prepares to end its purchase programmes. But the additional tier one (AT1) market is still thought to offer investors in bank debt unmatched opportunity.

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