Currencies
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A long-dated subordinated deal and a shorter dated senior were this week's highlights -
◆ Short dollar deal came with huge savings ◆ A long euro followed ◆ Issuer to look at PPs and taps for arb funding
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Euros are only ‘good on paper’ and dollar funding still attractive — for some
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Toronto Dominion plays fair with FRN investors with matched pricing
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Return of US market set to turbo charge European FIG bonanza with AT1 revival
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Investors prefer shorter tranches in about-turn of recent trend
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◆ Big five year book for sovereign ◆ Fourth syndicated transaction "not required" ◆ Pricing didn't work for ultra-long dated tap
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A pipeline of sovereigns looking for yen bonds awaits
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◆ Benign primary market offers funding to big and small ◆ Size trumps ESG labelling when it comes to performance ◆ MUFG single note versus Mizuho’s dual trancher
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◆ Missing fast money causes problems ◆ Fair value is a moving target ◆ SEK sails through with no-grow
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Corporates pump out another day of deals to the envy of other markets
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Issuance comes after a brief lull in foreign borrower activity
