FIG primary pauses as secondary decouples

By Frank Jackman
10 Mar 2021

The financial primary market paused on Wednesday. Despite euro borrowers enjoying oversubscribed order books this week, demand in the secondary market is lagging behind, as investors await further rises in yields.

“The primary market is OK so far this week,” said one head of FIG syndicate. “The Intesa deal was very well received, with the issuer paying 2bp through its own curve backed by a very nice oversubscribed order book.”

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