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◆ Deal much more popular than issuer’s last ◆ Better tone, improved backdrop ◆ Extra 3bp ‘made a big difference’
EU’s second half funding announcement imminent, downside risk highlighted
Market in 'a process to find the new and appropriate levels', observes issuer
◆ Speculative interest anticipated ◆ Geopolitical tensions make little dent ◆ 15 year sweet spot for Dutch pension funds
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Issuer gets ahead of potential supply wave next week
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Market watches for US CPI and shapes expectations on new issue concessions
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A pair of German states, an agency and Pfandbrief issuer are all possible candidates
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Deals can be done as long as pricing is reasonable, said bankers
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German development bank launches opportunistic £650m deal in quiet window
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Primary Market Monitor data from last January and August-September 2023 could give clue to market reopening later this month