Euros going strong, but hints of price push-back emerge

By Lewis McLellan
20 Feb 2020

The euro market, unlike the quiet dollar market, is going from strength to strength for SSA borrowers. However, the tight spreads are starting to make their presence felt, with investors starting to push back.

Belgium felt that push with its €5bn 20 year. Despite a book of €27bn, investors were reluctant to follow the price more than 1bp from initial guidance.

Belgium ended up printing €5bn of 2040 paper through CitiJP MorganNatixisNomura and Société Générale. The leads opened books at ...

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