Two SSAs come for dollars, but Europeans steer clear

By Lewis McLellan
30 Mar 2020

The dollar bond market is gradually opening up, with two high quality public sector borrowers hitting screens on Monday for short dated deals. But with volatility still gripping the cross-currency basis swap market, European borrowers are still sticking to their home currency.

“We’re starting to get deals coming through in dollars,” said a debt capital markets banker away from this week’s deals. “Last week’s deals went well, so there are some good pricing reference points. However, there’s a lot of volatility in the cross-currency basis swap, so for euro based ...

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