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Inaugural government deal could come in late 2026 or early 2027
◆ New 20 year Bund launched into popular demand ◆ Is 20 years the new 30 years for EGBs? ◆ Fair value in debate
German sovereign goes for conventional over green as smaller peers join a crowded Tuesday
issuer identifies 'most important' syndication metric amid rising international interest
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Seasonal slowdown sees demand cluster in one to six year vanilla private placements
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Hints about quantitative tightening could be the main focus
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Prospect of more borrowing and investment next year did little to deter Bund yields or swap spreads
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Hundreds of billions of euros of joint debt needs to be agreed upon before 2028, but many questions unanswered
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◆ Expectations for ECB rate cut decline ◆ August 18 issuance restart expected ◆ Dollar pipeline builds as Japan SSAs 'cheap'
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Market participants ‘certainly won’t get bored’ during quiet weeks for issuance