Ravenous ECB gorges on covered bonds
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Covered Bonds

Ravenous ECB gorges on covered bonds

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Demand for covered bonds issued on Wednesday by Deutsche Kreditbank (DKB) and BPCE exploded towards the final hour of book building, as the European Central Bank placed crushingly large orders for the deals. Even though the granularity of the order books was good on this occasion, the central bank’s larger than expected presence was expected to displace real investors.

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