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Pan-European stock exchange shares what was behind its recent decision to launch a defence bond label, how it may help both issuers and investors, and what lies ahead
◆ Gilts yields choppy amid PM leadership rumours ◆ Crossover of accounts drawn to linker trade ◆ 'Super strong trade' says lead manager
The trade was a little smaller than last year's debut, but has another social label
Sovereign prices flat to euro curve and 'well in line' with peers despite being less frequent in the currency
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◆ First out of three Belgian euro syndications proved a hit ◆ Usual 2bp premium paid ◆ Italy to follow with potential €20bn deal
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In euros, KfW and Belgium will test new year clearing levels
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In just two months, the Bahamas, Barbados, Ecuador and El Salvador have doubled the number of debt-for-nature swaps completed by EM bond issuers. These transactions could make the product easier for other countries to replicate
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Markets should not underestimate the risk that fringe parties could cause an upset in next year's German general election
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New 10 year bond inbound, green syndications not ruled out
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Country's gross borrowing will rise 16% next year as defence budget grows