Germany
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Swap spreads test new tights on fiscal expansion concerns as issuers turn to dollars
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Investors are becoming more price sensitive, said one banker
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Defence, utilities and real estate all likely to need more loans
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Slow week expected as market digests results of the parliamentary elections
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German electricity company ends corporate drought as Thermo Fisher announces roadshow
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Security expenditure targets must be met with debt brake reform, analysts say
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Duration returns to euro covered bonds but supply wave looks unlikely with relative value a sticking point
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◆ Issuer prints €2.25bn across two tranches ◆ 10 year tranche solidifies returning long end demand ◆ Slim premium needed on both tranches
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◆ Joint Länder trade raises €1bn ◆ JLMs help cover deal ◆ EGB sell-off deepens
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◆ German Länder used to guide pricing ◆ Book holds firm as deal lands tight ◆ Wave of 15 year supply unlikely, but 10 years a possibility
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Deal set to be the longest euro covered bond since May last year
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Manitoba, TCV join foreign SSA contingent, Chile's BCI prints five-year, but corporate supply lags