Currencies
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Biggest corporate deal of the year follows Synopsys' $10bn to buy Ansys
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Covered and unsecured issuers await greater stability, despite positive signs in secondary
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Core SSA spreads suffer as EU-level funding expected to jump, but concerns also loom over Bunds and other govvies
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Big orderbooks and zero average new issue concession paid belies chaos in rates market
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Some borrowers think the risks outweigh the benefits
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The issuer is also looking to end a six year absence from publicly placed RMBS
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◆ HSBC prints A$1.5bn into 'growing market' ◆ Banco Santander lures buyers amid value vs euros ◆ Aussie market 'more appealing'
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Market becomes harbour in geopolitical storm with borrowers tipped to set sail
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But low spreads on bonds posing stiff competition for loan market
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Issuer makes saving versus home currency and discovers ‘extraordinary’ real money demand
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Exceptional moves in rates could impact relative value across the FIG capital structure