Peripheral champions bid up

Flows were mostly focused on buying of peripheral national champions on Monday, as the impending liquidity injection from the European Central Bank is expected to crimp supply prospects by more from these regions. This is especially the case in multi-Cédulus where RBS research picked 10 prospective deals that may outperform. In the primary market, talk was focussed on the wrapped collateralised debt obligation being marketed to covered bond investors until Tuesday by Goldman Sachs.