SSA issuers back off from CP after sating appetite in basis-driven short term gluttony

Many euro-funding sovereign, supranational and agency issuers have pulled back from the market having benefited from favourable basis swaps to print large amounts in dollars and sterling over the past month, said commercial paper dealers.

  • 30 Sep 2011

"The really favoured issuers have been really well funded over the past month and have dropped their euro targets, so sterling issuance is not as pronounced as it was," said a CP dealer in London.

However, several large sterling tickets were traded this week. Among them were Bank ...

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