Euro
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Both issuers managed to summon large demand for their euro trades -
Concessions remain constrained, but oversubscriptions are unspectacular
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Landesbank Berlin's Pfandbrief was not received as well
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◆ Belfius attracts attention with its joint largest senior deal at 10bp NIP ◆ Now lower tier banks 'don't have to be a hero' to issue ◆ Cajamar debuts in green
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Issuer brings multicurrency deal that found ample demand in the long end of the sterling curve
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Issuers pay higher concessions as frequency of deals gives investors upper hand
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The supranationals will set the tone for a month crowded with issuance
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Telecoms company prices through conventional curve as interest in SLBs picks up
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◆ BPER Banca and Unicaja pull in strong demand for SNP deals ◆ Investors bidding for higher spread products ◆ Encouraging for more senior issuance from lower tier borrowers
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Issuers flatten curves amid sharp U-turn in sentiment in favour of duration
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Wild rush of trades was never going to last
