FIG pricing disconnect hurts the MTN market

17 Jan 2011

In spite of an improved market tone on Monday morning, MTN dealflow from FIG issuers is likely to be stunted as the market continues to be overshadowed by heavy public issuance — not helped by a disconnect between the prices that issuers are posting for the public market and less attractive levels for private placements.

Dealers reported improved investor sentiment towards the end of last week and on Monday morning, but this has so far not produced a rush of FIG deals.

Many issuers have not yet revised their MTN funding levels for the year, and are also offering more attractive yields for ...

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