FIG bankers fret over Yankee issuance

By David Rothnie
28 Aug 2014

US FIG syndicate bankers are gearing up for a busy September but fear that the onset of the European Central Bank’s Targeted Longer Term Refinancing Operations (TLTROs) will dent issuance from Yankee borrowers.

Bankers are predicting healthy supply in September, starting with Canadian banks fresh from reporting earnings. Yankee issuance from European banks faded over the summer as a shift in the euro/dollar basis swap made euro funding more attractive, and bankers remain on tenterhooks about the impact of ...

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