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Baden-Württemberg set to price FRN on Tuesday in so far quiet primary market
The usual supply slowdown moves fast into sight but issuance windows remain open for next two weeks
Price advantage and strong treasury demand brings borrowers back for more
US fiscal woes across keep investors on edge as sensitivity to public debt grows
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The trade is the most raised by an EM sovereign in one day in nearly four years
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Serenity is the right reaction to a likely increase in the sovereign's borrowing
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Overall bond issuance to rise but most sovereign deals will be refinancing
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‘Very, very strong’ first week sets up bigger test ahead
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Issuers including Portugal, CEB and BNG braved a short window to get their first deals of 2024 done
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Country prints bigger bond than expected and will therefore rely less on private placements