FIG market marches on after Fed ‘saves the day’
An outburst of activity in the financial institutions bond market was punctuated by a pause for reflection in the middle of the week, but Nykredit Realkredit was leading a return to supply on Thursday as DCM officials rejoiced at signs of more support for credit markets from the US Federal Reserve.
Issuers priced about €18bn of new supply on Monday and Tuesday, with activity then slowing down as DCM bankers allowed recent deals to settle in the secondary market.“The market needed a session to adjust to the very heavy supply,” said a FIG syndicate official, who noted that ...
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