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◆ 'Accelerated execution' due to market uncertainty ◆ Popular deal spotted close to fair value ◆ Momentum accounts 'less active'
Primary market for public sector unlikely to see large transactions until after Easter, reckon bankers
Market participants pray for no negative news overnight in hope of ‘pre-Easter wave of issuance’
Two day executions expose dollar issuers to market volatility
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Île-de-France will open books for its fourth green bond on Tuesday morning, in spite of troubling US jobs data.
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The Province of Manitoba on Tuesday sold its largest ever deal in euros, tapping its June 2040 line for €212m. The deal has, according to a funding official at the issuer, paved the way for a debut public transaction in the currency.
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Catalonia’s finance minister will describe a Moody’s downgrade of the region as “artificial and irrelevant” later on Friday, according to GlobalCapital sources.
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A pair of issuers reopened the 10 year part of the dollar curve for sovereigns, supranationals and agencies this week, but despite both trades gaining plaudits there is still scepticism over whether a $2bn-plus sized deal is possible.
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JP Morgan has announced internal promotions in its rates trading business, following the retirement of Carl Norrey, who ran the firm’s SSA business, straddling origination and trading.