MTN market a ‘tale of two cities’ in tumultuous week

By Frank Jackman
13 Mar 2020

This week, it was the best of times, it was the worst of times – and despite volatility caused by the spread of the Covid-19, a trickle of MTN issuance has managed to slip through into the market.

“It’s quiet yes, but dead no,” said one MTN banker. “It’s a tale of two cities — there’s a flight to quality in SSAs and at the long end some issuers’ spreads means a few trades make sense from a yield standpoint.”

Two SSAs visited emerging market currencies ...

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