LatAm Bonds

Fears of a collision of SSAs in the euro sector this week proved unfounded as Eu5bn of 10 year supply and Eu10bn of three year bonds were absorbed with ease as euro investors displayed an insatiable appetite for product across the curve. Strong demand for longer dated product was underlined by the success of two 10 year bonds from the World Bank and Instituto de Crédito Oficial (ICO), and a tightly priced Eu650m tap by SNCF of its 15 year bond.