Euro
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◆ Norwegian national champion pays 5bp-10bp NIP ◆ DNB thought to have limited the issue size ◆ Market sentiment better on Tuesday but not conducive for lower tier issuers -
More SSAs eye deals but new week is set to be quieter than last
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Core and semi-core eurozone issuers are spying a chance to push ahead with funding after low volumes in September and October
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Size smaller than expected as bond yields surge
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Investors expect to turn screws on anyone left to issue as sovereign yields rise
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Deal just subscribed as issuer trades on scarcity to prioritise size but some think it could impact pipeline
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Hiring spree of Credit Suisse alumni continues
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Shunned sectors becoming more palatable, but some buyers still give cyclicals a wide berth
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US banks may find a willing audience in euros but that will add to complications for European issuers as they look to start early on 2024 funding
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◆ Heavy January supply and higher NIPs will spur pre-funding ◆ Earnings blackouts, rates and geopolitical tensions are curbing issuance ◆ Montepio waits for stability
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Spreads tipped to widen as uncertainty reigns
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◆ Banco Montepio targets high 9% ◆ Dollars on fire, euros solid ◆ Size slashed by Czech lender
