Scotiabank
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Bank of Nova Scotia garnered €2bn jumbo size with the shortest Canadian deal but spread widening pressure forces it and SP Mortgage Bank to pay up -
Away from the heavy Canadian issuance in euros this year, Bank of Nova Scotia diversified funding with Kangaroo covered bond
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Issuers moved swiftly to print deals as the SSA market for benchmark bonds reopened this week
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Canadians have dominated covered bond supply this year, especially BNS
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Lack of issuance and attractive levels driving senior sterling flurry
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Debut deal to spark further labelled debt development in the country
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Others are not expected to follow after cool reception
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SSA issuers line up new bonds in a market that has been tepid towards the sector
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UK central bank three times oversubscribed while SEK struggles to cover book
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Issuers hope for calm after dollar market was volatile during recent trades
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Sizeable deal could have been even larger had a shorter maturity been chosen
