EIB plays to market mood with defensive $3bn 2 year

10 Jun 2004

The European Investment Bank read the defensive mood of the bond market perfectly this week and moved quickly to take advantage by launching a $3bn two year global bond.

The catalyst for the transaction was the strong US non-farm payroll number released last Friday, which reinforced expectations of an interest rate rise at the FOMC meeting later this month.

For the last few months each successive payroll announcement has sown more disquiet among investors ...

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