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Recent deals showed that investor appetite for SSA credit remains
◆ '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’
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The Province of Quebec has returned to the medium term note market after a long absence, printing in Hong Kong dollars.
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Issuers are meeting investors' yield demands by printing long end private placements. One German state sold its longest ever bond on Tuesday and more sub-sovereigns from the country are likely to follow, according to market participants
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After a bumper two weeks, issuance in dollars slowed down this week in anticipation of the Federal Open Market Committee’s meeting on April 26-27.
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A pair of rare SSA names kept Kangaroo and Kauri bond supply ticking over this week, as Asian investor appetite drove demand.
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The Province of Ontario on Wednesday became the second Canadian issuer to print a 10 year dollar benchmark this month, adding to a recovery in issuance at that part of the curve.