Ontario and DBJ ride out rates volatility

By Bill Thornhill
26 Sep 2019

Two public sector borrowers rode out the tricky conditions in the dollar market on Wednesday to find good demand for new issues. US Treasury yields recorded sharp falls that were due to a range of factors, including the launch of a formal impeachment inquiry into US president Donald Trump.

The Province of Ontario and the Development Bank of Japan sold 10 and five year bonds respectively on Wednesday.

Ontario priced a $1.25bn October 2029 global benchmark with a final spread of mid-swaps plus 47bp via BMO Capital MarketsBNP ParibasJP Morgan and Scotiabank. The deal was ...

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