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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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‘Rare occurrence’ where both issuers and investors are happy — but how long will it last? -
Tokyo also made an appearance in dollar market with fixed rate deal
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Finnvera and German SSAs also brought conventional deals
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Canadian province established a new, longer-dated pricing reference for itself as well as peers
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Five year sweet spot attracts €3.4bn of demand after swap spreads normalise
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Sub-sovereign issuers found support in an undersupplied market
