SSAs make sterling start to 2021 despite tricky backdrop

By Burhan Khadbai
07 Jan 2021

All five public sector borrowers that sold sterling benchmark deals this week received exceptionally strong results, despite having to navigate through difficult market conditions in the currency.

The tough market backdrop was the result of uncertainty around the impact of Brexit and the rising cases of coronavirus in the UK, which led to sharp movements in swap spreads and the cross-currency basis swap.

“There was a lot of news to digest as traders came back this ...

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