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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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Market shifts to favour returning issuer -
Land hits upper end of size target after being 'reasonable' about pricing
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A longer break before the January rush kicks in may be what the SSA market needs
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Issuers face a field of hazards, including opaque pricing and unreliable secondaries
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Rates disharmony but spreads a ‘different animal’ as level proves music to borrower’s ears
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Labels and length as issuers offer duration to market where 'mis-steps' still possible
