Euro
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Size smaller than expected as bond yields surge -
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
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Rare issuer builds chunky demand after shaky start to the week for corporate issuers
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Stadtsparkasse München to test demand for five year Pfandbrief
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CA Auto Bank draws €1.35bn of orders for a €650m long three year senior bond
