◆ Duration and spread demand dictate investor demand even at tighter valuations ◆ Rabo exemplifies this trend into a €1bn 10.5 year SNP that was more than six times subscribed ◆ NBG and CIBC also print with arguably no concessions left
French banks are satisfying their appetite for long dated covered funding but whether infrequent core eurozone issuers can replicate this success remains to be seen
