Pre-migration untagged articles

Portfolio managers have been growing increasingly desperate over the last few weeks as emerging market bond fund outflows have grown and grown — hitting nearly $1bn last week. One manager claims that he’s lost more out of his fund since the start of the year than throughout any eight weeks over the financial crisis.

The European Central Bank this week rejected the idea of a European credit rating agency. The opinion formed part of the ECB’s response to a European Commission consultation on rating agencies, and also made clear that the bank sees no role for itself in rating European sovereigns.

Bank Nederlandse Gemeenten and Nederlandse Waterschapsbank have made their short term private placement funding levels less attractive as they want to focus on issuing longer term debt.

KfW printed a large amount of commercial paper at tight levels this week, allaying worries of overcrowding among European sovereigns, supranationals and agencies issuing short term debt.

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

The Bank of England announced on February 11 that it was changing the collateral rules for the sterling monetary framework — pushing most rates products outside its "narrow collateral" bucket. Government debt from the US, Canada, Germany, France and the Netherlands, alongside Gilts, will be the only eligible narrow collateral.

Congratulations must go to Credit Suisse for pulling off one of the most impressive and important bank finance transactions of recent times.

Testifying to a strong long end bid, Caisse de Refinancement de l’Habitat on Tuesday priced the largest 12 year covered bond for over a year, and the borrower’s longest dated transaction to date.

MTN dealers put forward other possible Spanish names to the market this week, in response to investor enquiry, following Instituto de Crédito Oficial’s puttable floater on February 4.