Last year’s fear that sovereign, supranational and agency issuers could begin to encroach on FIG issuers’ share of the CP market appear to be becoming a reality in 2011. SSA issuers sold $700m equivalent more ECP on Monday than banks, which are traditionally the market’s dominant issuer base. Dealers say rates need to rise in the front-end markets. Should banks be leading the charge? Read EuroWeek on Friday.
Will Caiger-Smith +44 20 7779 7323
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