Currencies
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Slimmer premiums expected this January compared to previous years -
◆ Whether issuer priced through euro curve debated ◆ French bank opting for sterling 'pretty smart tactically' ◆ Euro-sterling cross-currency basis lures other issuers
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◆ Joint largest size from non-UK public sector issuer ◆ ADB also raised £1bn ◆ Cross currency basis allows for sterling concession
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In euros, KfW and Belgium will test new year clearing levels
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One or two German speaking issuers could issue this week
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◆ Rare senior non-preferred appearance helps attract demand ◆ Issuer expected to be more frequent in sterling after Virgin Money acquisition ◆ Deal lands flat to fair value
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The facility is being used to drive Saudi investment in industries away from petrochemicals
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Italian union on Friday said car production was at 1950s levels
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◆ Deal more than twice covered ◆ Pricing tightens 3bp ◆ KfW expected to open supply next week
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At least one deal expected next week as issuers prefer unsecured bonds instead
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◆ Sterling SSA market active after slight yield widening ◆ Two day execution strategy helps impressive book ◆ Prices through peer
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Maire subsidiary will use loan for M&A and research
