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Covered bond redemptions are set to increase by €20bn next year and €30bn in 2027
Strong demand for slim supply could tempt issuers to access the market before Christmas
No investors involved in Caffil's latest deal mentioned concerns over French risk
Issuers' desire to put covered pre-funding to one side suggests concerns over bumps ahead
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◆ New legislation will drive supply ◆ Covered bonds become a crucial part of Polish funding mix ◆ Up to €1bn of fresh paper expected this year
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French covered bond spreads may be alluring, but issuance will be muted for the rest of the year
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◆ Swedish supply down in euros ◆ Domestic market offers better alternative ◆ Euro issuance to pick up in the autumn
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More deals expected in the coming months as conditions improve
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Market awaits EU’s lead once election volatility subsides
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Shorter deals and higher premiums needed to secure covered sales