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◆ Issuer returns to EuGB label ◆ €4bn trade bigger than last year's debut ◆ 'Very positive' and 'very successful' exercise
◆ Deal lands near Renten and ESM records ◆ Volatile swap spreads during pricing ◆ Favourable demand dynamics
◆ Issuer already raised €7bn in January ◆ More advanced funding progress than last year ◆ Textbook approach to pricing
Issuance across euros and dollars is set to rise
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes in November.
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Nederlandse Waterschapsbank and Kommuninvest will both take to the dollar market this week, sneaking in ahead of the Thanksgiving holidays.
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Kommuninvest and the Kingdom of Sweden both took to the market this week, pulling off successful trades in a buoyant market.
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China Development Bank returned to the offshore renminbi bond (CNH) market after six years with the largest print in the currency for 2020.
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World Bank double-dipped this week, hitting the sterling market on Monday and the dollar market on Tuesday, focusing its efforts longer in the curve to increase the duration of its portfolio.
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The European Union faces its bitterest internal conflict yet, with member states drawing battle lines over the receipt of EU funds becoming dependent on states adhering to the rule of law. The conflict risks delaying or sinking the EU’s recovery fund, but capitulating would weaken its ability to oversee how the money is used, writes Lewis McLellan.