Currencies
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Banks alleviate funding costs and diversify buyers as money market funds emerge from banking crisis
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Investor diversification and duration lure issuers, but lower need for single currency and lack of arb will limit further issuance
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Demand swells for both deals as investors snap up undersupplied green paper
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Market thirsty for paper, though investors prefer defensive trades
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◆ Bigger bid for longer tranche surprises those eyeing inverted yield curve ◆ Why long dated FIG bonds are outperforming ◆ Issuer’s remaining funding plan outlined
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◆ Swiss bank introduces new bail-in structure ◆ ‘In-depth price discovery’ to reach final level ◆ Investors ‘get to grips’ with bail-in for issuer with no private shareholders
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- Why capital trades work in a market that 'lacks conviction' - The investors that drove Novo's new tier two last week - Some hold out for extra yield
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After Lloyds’ Permanent RMBS came through covereds, a repricing had been overdue
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Benchmark matching drives orders as issuer prints a fraction of what was possible
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Swedish firms scores substantial 20bp-30bp saving versus euros
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◆ Dutch issuer takes unusual approach to marketing ◆ Arkéa used a different tactic to attract buyers ◆ Dealers detect confidence from investors in longer dated deals
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Stubborn inflation in UK will maintain rates volatility in the currency for longer, warn analysts