Currencies
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Big brand still key as second tier firms find some parts of the market inaccessible
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Issuer’s price target was not met, but outcome was still impressive
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Orders for the well subscribed deal continued to flood in after spread was set
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Inverted curves and soaring rate expectations make dollars a tricky market
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Insurance companies expected to show up for 2% coupon
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Plenty of demand left as FIG sterling burst hits £4.5bn over the last fortnight
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Slovakian deal joined by Austrian and German mandates
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French financial group has raised €6.5bn in the covered bond market so far this year
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Swiss bank hopes to price close to non-preferred comparables
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More corporates waiting to pounce, but blackouts and Easter set to hamper supply
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New issue premiums shrink narrow as market confidence returns