KfW
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Quickly contracting swap spreads make deriving fair value in dollars difficult -
Existing head seconded to corporate strategy department
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Euro pipeline builds as KommuneKredit and Andalucia mandate for ESG bonds
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Widening asset swap spreads and green rarity drove €34bn of demand into deal
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The window for SSAs to issue long duration opens and shuts in days
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Germany agency deal limps over the line as long duration euros remain a tough sell
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Issuer braves soaring inflation print and government spending statement
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Issuers print well through mid-swaps but are limited to bonds with defensive maturities
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Issuers stick to short maturities with rate rise expected on Thursday
