North America
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Volatile market proves little obstacle for long maturity funding -
Canadian banks are expected to be one of the largest issuer groups in the asset class as they diversify across currencies
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Higher rates and rallying equities drew US companies back to the asset class
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◆ Rate cut expectations raise appeal of bank debt ◆ NBC and Ally Financial push annual issuance to $593bn ◆ Yankee and US regional banks expected to lift supply in 2024
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Dovish guidance from the Federal Reserve has boosted the US high grade market
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Issuance is expected to slow ahead of the last Fed meeting of 2023
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IG corporate volumes top €2bn this week as demand continues to outstrip supply
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Increase in dollar issuance follows growing fatigue towards euros
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The deal offered exceptional value and was increased then tapped
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Some votes could create volatility, but others should be straightforward
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IG corporates expected to slow down issuance significantly after this week
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The US corporate market reopened swiftly this week after Thanksgiving
