Pre-migration untagged articles
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Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, self-led deals and issues with a term of less than 365 days
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An improving Swiss franc/euro basis swap allowed NordLB and Landesbank Baden-Würtemberg to kick down the door to short dated covered bond issuance this week. Bankers said other euro-based borrowers could follow on the back of improving swap costs after a week-long issuance hiatus.
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A widening in the euro/yen basis swap prompted a flurry of issuance in the Japanese currency from agencies that fund in euros this week.
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Axa Investment Managers announced the launch of a European short duration high yield fund on Thursday — suggesting some investors are still moving into the asset class, despite its recent volatility and August’s depression.
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Donald Kohn from the Bank of England’s Financial Policy Committee called this week for better reporting from the UK’s banks.
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MTN investors turned to SSA issuance in non-core currencies this week, with dealers saying that low yields in core currencies had prompted the move. Yields on 10 year Bunds and US Treasuries late on Thursday were around 1.87% and 1.99% respectively.
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Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, self-led deals and issues with a term of less than 365 days
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Wandsworth Council is planning to launch a bond issue in a move that could be the first in a spate of issuance from the UK local authority sector. However, doubts remain about whether the bond market could provide much more attractive pricing for many local authorities than traditional sources of funds.