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First Canadian province to visit euros in 2026
◆ Cautious start after spreads moved around ◆ KfW's spread tightens, but Länder unmoved ◆ ‘Real’ Länder-KfW spread yet to be established
German sovereign goes for conventional over green as smaller peers join a crowded Tuesday
Primary market shows strength but pockets of weakness a reminder that ‘1bp could make all the difference’
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Domestic names rush to hit the market ahead of expected volatility next week -
Relative value mismatch between core and non-core issuers is one of many concerns
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We would welcome your feedback on the outlook for the SSA market
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Trio of green Swiss franc trades supported by ESG demand
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Bund-swap spreads are heading to uncharted territory with little to stop them, which could cause a headache for SSA issuers
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◆ Deal priced at same spread as Baden-Württemberg ◆ Pricing in high-20s versus swaps is new reality ◆ Länder spreads versus KfW remain intact
