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‘Very normal market’ despite ongoing war and volatility to support another wave of new issues
Bankers say the ambition to price the first SSA bond through US Treasuries has faded as recent five year deals stall and barely perform in secondary
Books on the dollar deal opened just hours after Iran attacked the country
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China has released new rules expanding its municipal bond programme and providing a debt swap quota for local governments. Observers welcome the new measures which they hope will encourage transparency over debt levels and provide local authorities with more funding flexibility.
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Russian sovereign Eurobonds have rallied a lot since the end of January, dragging along many corporates with them. A number of factors are contributing to the apparent optimism, but analysts are debating how long the rally can last.
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Spain this week ended a run since the beginning of the year of eurozone periphery countries raising books of over €10bn — but sovereign debt bankers were reluctant to call time on the strong bid for the issuers.
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Ras Al-Khaimah drew praise from bankers on and off the deal for a $1bn 10 year sukuk that it priced on Tuesday.