Europe
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Republic of Poland’s €1.75bn dual tranche market reopener underperformed on the break on Tuesday. The deal drew criticism for printing too tight and too wide, based on which comparable was used, but the Polish Ministry of Finance called the note a success.
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Five issuers from core Europe priced covered bonds this week but the standout success, which could have been priced without the European Central Bank’s help, was the first Austrian deal of the year from Erste Bank.