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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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Germany faces funding shortfall for 2024 but problem extends beyond Bunds to agencies and Länder -
Issuers relied on dollar market to cross funding finish line in 2023
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Bonds will be settled in wholesale CBDC on December 1 as part of Swiss National Bank’s tokenised asset pilot
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German state intends to issue two or three deals before the summer
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Deal comes flat to swaps, but issuer cannot reach hoped-for size
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Short end demand wanes as investors adjust to 'peak rates' narrative
