German Sovereign
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As 'greeniums' on public sector bonds are now hard to define, issuers are focusing on other advantages
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SSAs look increasingly expensive versus government benchmarks, raising the question of when investors will stop buying
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“Pretty much fair value pricing” for triple-A rated sovereign
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Well-funded SSA issuers take their time, but weak secondary performance worries bankers
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EIB to test 15 year demand as agencies eye euros and dollars
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Sovereign cuts issuance by €60bn but market readies for another year of hefty SSA issuance
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More benchmarks of €1bn are planned for the year ahead
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Germany faces funding shortfall for 2024 but problem extends beyond Bunds to agencies and Länder
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The sovereign also expects to add a new point to its green bond curve
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Window opens up for sovereign as SSAs clear out for central banks and CPI
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… as long as it’s for the right price
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The issuer launches a long-end deal that beat expectations
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The sovereign plans to add to an existing 30 year benchmark
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EU built a robust book but Germany drew a more tepid response
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European sovereigns in good fiscal position to provide finance through energy crisis
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Shrinking greenium in secondary spills over to primary market
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The sovereign led a primary deal flurry on Wednesday with a ‘fairly priced’ green outing
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Sovereign to offer ‘what the market wants’ with upcoming deal
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The tightening is unlikely to be sustainable, says analyst
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Central bank staff comments slashes hope that bank will step in to stop sell-off
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Dovish bias expected in first meeting since Russia invaded Ukraine
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Sovereign cruises through difficult week in the markets
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Germany, Rentenbank and EIB mandate for deals despite Ukraine invasion shockwaves
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European syndicates confident yen will return as ECB eases off buying