Lack of confidence hampers senior market

13 Jun 2011

Despite a stronger opening, the senior unsecured financial institutions bond market was inactive on Tuesday morning as well funded borrowers were reluctant to dip their toes in the market.

Indices were tighter, and although bankers said that cash prices had improved, a lack of confidence was holding issuers back.

“Prices are better, the indices are better,” said a FIG syndicate banker. “It feels better, but it’s not, really.

“If anyone put out a majorly strong bid, I think they’d ...

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