Scandis come but some SSAs skip dollars

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Big moves in US Treasury yields, swap spreads and the euro/dollar and euro/sterling basis swaps put paid to some dollar issuance this week as some borrowers held back and others tapped different currencies. But a pair of Swedish names did get deals done, and rates started to move back into more favourable areas, suggesting volumes could pick up again next week.

By Craig McGlashan
17 May 2018
As the week opened up, dollar swap spreads dropped and the euro/dollar cross currency basis swap moved heavily in favour of printing in euros and swapping back to dollars, particularly in five years. That led Asian Development Bank to opt for five year euros instead of an expected ...

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