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◆ 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
A rally thanks to cheaper oil has let the Gilt market defer its reckoning with political risk. But it is coming, for sure
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Two syndications have landed the sovereign €16bn with just one more trade left to do
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Books had grown since a ‘little underwhelming’ figure released at revised guidance
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Sovereign's largest ever new issue received positively, despite issuer's many credit challenges
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The sovereign has €10bn of gross borrowing requirements this year
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Are EU bonds too cheap, or are the likes of EIB and KfW too expensive?
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Second largest book on record for the issuer after a 10 year it priced in March 2021