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All as expected by the market, but lack of more details regarding bill issuance somewhat disappoints
◆ Sovereign back in euros, alternating from dollars in 2025 ◆ “Very low double digit” spread over Germany ◆ Sweden, KfW key comps
Likely successor as UK prime minister Andy Burnham further to the political 'left than anyone else’ but market hopeful that scope for more borrowing is limited
Fiscal targets for 2026 already met, more early debt repayments underway
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Swedish issuer scoops €700m on euro return
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Despite rising inflation and interest in the format, the EU's focus is on conventional and green debt
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UK sovereign draws ample demand at the long end as markets continue to ignore domestic political upheaval
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Hints of a new support programme branded as kicking the can down the road
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Some question whether the ad hoc meeting will be enough