Land NRW goes long in euros ahead of ECB rate cut signal

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By Burhan Khadbai
22 Jul 2019

The State of North Rhine Westphalia mandated banks on Monday for a 30 year euro benchmark, ahead of a highly anticipated European Central Bank meeting later in the week, in which analysts expect the central bank to hint at a rate cut in September.

Barclays, Deutsche Bank, LBBW and UniCredit will lead the transaction for Land NRW, which will be the German region’s first benchmark in the 30 year maturity since June 2017.

Public sector borrowers have been piling into the euro long end, as investors look to lock ...

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