Banks flock to sterling in 'delayed reaction' to Brexit election

By David Freitas
09 Jan 2020

Foreign and domestic banks flocked to the UK this week as they sought to take advantage of stellar funding conditions in the sterling market. Bankers said this was the first chance issuers had to benefit from opportunities in the currency following December’s general election, which removed a lot of short-term uncertainty around Brexit.

Sterling has been one of the most attractive currencies for international financial institutions at the beginning of the year, with supply coming from a variety of issuers in senior and covered bond formats.

The result of December’s election ended uncertainty around when the UK would leave the European Union, ...

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