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Sub-sovereigns

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◆ German state's last benchmark this year ◆ Tightest Länder seven year in 2025 ◆ International demand dominates book
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◆ Land NRW and British Columbia eye euros ◆ Rentenbank going for dollars ◆ Too soon to pre-fund?
Taxonomy alignment grows, making EuGB label possible
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Portugal and KfW lead euro supply with five year as dollar market focuses on second AfDB hybrid
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