PMM: Covered bond issuers take advantage

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By Johan Lai
04 May 2021

Recent trades have demonstrated just how sublime primary market conditions are for covered bond issuers, stoking a revival of the previously dormant sector.

Deal sizes have been small and the volume of issuance so far this year has been half that for the same period last year. With net supply standing at negative €47bn so far this year, investors have become increasingly desperate to get hold of paper. As a consequence, ...

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