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◆ Close or through fair value ◆ Favourable cross-currency dynamics ◆ Investors choosing maturity over credit
◆ State development bank brings year’s first euro deal ◆ Long-end levels attract yield buyers ◆ ‘Encouraging’ signal for duration demand
◆ Tight level to US Treasuries and record book ◆ Market gets the 'tier one' name it needed ◆ Momentum builds for more SSA dollar issuance
◆ Investors 'not showing hands' as early ◆ Fair value debated by bankers on and off deal ◆ EU prices against own curve for only second time
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Deal grows beyond expectation after month without issuance
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Deals performing but market lacks conviction, say dealers
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Both issuers managed to tighten from guidance by 3bp-4bp
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SSA issuers put recent central bank meetings behind them to tackle funding towards the year-end
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SSA issuers have shunned the currency since late September turmoil
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Suprnational set to settle deal using tokenised commercial bank cash on HSBC managed platform