Covered Bonds
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Six issuers are planning deals with UniCredit among them -
The issuer failed to tighten pricing despite a handsome premium
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Spreads in the SSA and covered bond markets were well supported on Tuesday but an inverted yield curve is a cause for concern, suggesting the long end will remain vulnerable
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Even a stronger start to a day in the markets not enough to guarantee stellar result
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Deals with maturities of around five years are expected to attract investor interest
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Imminent senior issuance unlikely aside from large, frequent global banks
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Covered bond market leaders gathered in Vienna to celebrate this year’s winners
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Covered Bond Congress attendance back to pre-pandemic levels
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Central bank expected to end seven years of negative rates on Thursday
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Appetite for four deals was closely correlated to their maturity
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The EU's Covered Bond Directive was supposed to clear up regulatory ambiguity but in the end investors decided for themselves
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An impending curve inversion means demand will head even shorter
