Covered supply set to improve after slow start

28 Mar 2013

Primary covered bond supply in euros is down about half on last year’s first quarter levels, but there are hopes that issuance will start to pick up in April.

Two core issuers, possibly from Germany, are rumoured to be considering Pfandbrief issuance at the long end of the curve. Elsewhere, bankers say the market is ripe for Austrian supply, as the sector is considered similar in risk to Germany but with a more attractive spread. Austria’s Hypo ...

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