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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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Demand picture for long-dated paper still uncertain after Jackson Hole meeting -
Reluctance to show hands has led to smaller books and higher concessions
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EFSF, NRW.Bank and SEK also brought deals in cautious market
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Reception from investors on Tuesday are weaker than some had expected
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Pricing is expected around September 7
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The southern European sovereign is also on the threshold of an IG rating from an ECB-recognised agency
