KfW urged to brave rough markets with 10yr dollar as curve flattens

22 Feb 2008

After a punishing week in the triple-A dollar bond market, when deals for Rentenbank and Council of Europe were rocked by successive waves of gloomy news on the US economy, fixed income specialists were eager to find out yesterday (Thursday) whether KfW would take the daring step of launching a 10 year dollar deal.

The German state bank had made no announcement by Thursday, but bankers had been urging it to do the trade all week, as 10 year Treasury yields rallied and the curve reversed its steepening trend.

And market participants told EuroWeek on Thursday that three banks had already been mandated, ...

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