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Only one of Canada's big five banks has yet to publicly support new defence bank initiative
◆ Issuer's first benchmark after after active start of year in PPs ◆ Deal attracts big book despite large tightening ◆ Only KfW priced with lower spread to USTs this year
International interest for German paper has grown
ESM priced new €2.5bn 10 year at flat to EIB
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Outgoing de Mazières will remain a senior advisor at the bank until his retirement next year -
Market in 'good condition' after EIB re-opener, more supply to come next week
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Supply to spill over to Thursday with JFM, more deals to come next week
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EFSF, NRW.Bank and SEK also brought deals in cautious market
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DBJ also came out on Tuesday with larger than usual tightening
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Reception from investors on Tuesday are weaker than some had expected
