ABN Amro Swissie deal proves sceptics wrong

Most market participants thought banks’ reappearance in the Swiss franc market would stop at Rabobank’s seven year trade that was priced on Monday. But ABN Amro’s first franc deal in six months — a Sfr100m minimum 1.5% two year senior unsecured note, which is likely to grow to Sfr200m — may be a first sign of clemency from Swiss investors towards the FIG asset class.