ESM-EFSF
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The public sector borrower market is enjoying stability after weeks of turbulence, with a pair of issuers trebling the number of euro benchmarks so far this month.
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The European Financial Stability Facility has opted for a defensive maturity with a deal that should complete its funding for the second quarter of 2015. -
Public sector borrowers are looking to the European Financial Stability Facility to calm the increasingly volatile and unpredictable euro debt market, writes Craig McGlashan.
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The European Financial Stability Facility looks set to again walk alone in the euro benchmark market for SSAs, after sending out requests for proposals on Wednesday.
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A second successive twin tap deal, following Portugal’s lead at the end of last month, brought the European Financial Stability Facility both plaudits and brickbats this week in an otherwise deserted euro primary market, writes Craig McGlashan.
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The European Financial Stability Facility passed a tricky test in euros on Wednesday — but bankers were divided over whether it had opened the market for others.
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The European Financial Stability Facility took several SSA bankers by surprise on Tuesday, when it mandated for a 30 year tap in an unstable euro market.
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The euro market was stable on Monday after a scorching sell-off over the last two weeks, boding well for a supranational’s benchmark plans.
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The prospect of European Central Bank quantitative easing failing to suppress eurozone borrowing costs sent panic through the sovereign, supranational and agency sector this week amid a savage sell-off across European debt markets.
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The European Financial Stability Facility will have a tricky tenor choice for a deal window next week — if it chooses to use it at all, said SSA bankers.
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