Sterling
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Issuer raises £1bn from a three year covered bond, the third in the currency since Nationwide and Skipton issued longer deals -
◆ Deal resuscitates near two-month hiatus in sterling unsecured FIG issuance ◆ Final book above £3.6bn hailed as ‘confidence’ booster for sterling market ◆ Varying NIP views at 20bp-30bp
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Asset-liability management exercises may become more popular as investor credit lines fill
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Stadtsparkasse München to test demand for five year Pfandbrief
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The ground breaking deal sent a green light to other UK issuers
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Issuer has funded almost 98% of its annual target with no new benchmark expected for rest of 2023
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Sterling and euro corporate bond markets turn hostile on Monday
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Tricky week for corporate borrowing sees surge of issuance before US CPI data
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Euro and sterling trades hard to evaluate but still get over the line
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The World Bank group borrower went further along the sterling curve than any other SSA this year
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Policy bank to issue about €15bn this quarter
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Variety of corporate bonds in the works but volume expected to slow sharply
