Morocco rides QE to reap rewards of tight euro market
The Kingdom of Morocco achieved savage price traction on its €1bn 12 year trade on Thursday, bringing in the yield on the trade by 40bp, to 1.6% and extending its curve.
The deal’s success looks set to end the year for new emerging market bonds on a positive note, with receptive issuance conditions in the euro market in particular set to last for the long term.Many European pension funds are overweight negative yielding Bunds and other euro-denominated notes. ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com