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Revival in overseas demand for French SSA paper
Deal will bring fourth major multilateral development bank to the market
◆ Other options on table but issuer opts for two taps ◆ ‘Huge books’ now a norm for the issuer, clear NIP this time ◆ EU’s curve evolves to resemble that of EGB peers
◆ Tightest level since IFC's three year print ◆ Investors recycle redemptions ◆ Programmatic and pragmatic approach
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KfW is marketing a tap of a green Kangaroo in the short end of the curve in what will be the third deal from a public sector borrower in the Australasian bond markets this week.
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Singaporean sovereign wealth fund Temasek offered investors 10 year, 20 year and 40 year bonds this week when it priced its $2.5bn deal.
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The European Central Bank is not expected to sketch out the future of its Pandemic Emergency Purchase Programme (Pepp) until the fourth quarter of 2021, according to analysts.
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The Asian Development Bank began preparing issuance in both the Kangaroo and Kauri markets on Monday, with the latter set to mark its second gender bond in New Zealand dollars.
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The European Central Bank made a bold change to its monetary policy on Thursday, effectively pushing any prospect of interest rate hikes into the distant future, making them unlikely before the middle of the decade. Frank Jackman, Lewis McLellan and Burhan Khadbai report.
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Communication is the only real policy tool where the European Central Bank still has wiggle room.