Vaccine rally leads to FIG borrowing spree

By Tyler Davies
12 Nov 2020

Financial institutions jumped into action this week, as positive news on the development of a Covid-19 vaccine led to superlative funding conditions in the euro market.

Banks raised €11.3bn of debt from 13 new euro transactions between Monday and Thursday. 

Borrowers had initially been encouraged to return to the market following the confirmation of Joe Biden’s victory in the US presidential election over the weekend. 

But credit spreads surged another leg tighter when BioNTech and Pfizer ...

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