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◆ No book update for €500m no-grow deal ◆ Surprising lack of demand for defensive trade ◆ Investors continue to cherry pick in big week for supply
◆ Spread to Land Hessen key to pricing ◆ Leads thought long and hard on whether to tighten ◆ 1bp move the right amount as book grew
◆ Three German states brought a new Joint Länder bond ◆ No book update, KfW curve guides pricing ◆ Flemish Community prints new 15 year
Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
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The low interest rate environment is causing investors to look at longer and longer paper in search of yield. Issuers are seizing the chance for long funding with private placements.
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Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, on Thursday released initial price guidance for its 10 year euro deal.
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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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