Rabobank
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◆ Joint Länder trade raises €1bn ◆ JLMs help cover deal ◆ EGB sell-off deepens
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◆ Curve repriced significantly since January ◆ Bond prices tight after spread moves 2bp ◆ Lower Saxony borrows with nine year
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◆ Another offshore borrower set to print in euro 6NC5 format ◆ Issuers favour October 2029 Gilt ◆ Investors 'quite ambivalent' about choice of Gilt
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Lack of supply, not demand, will cause any slowdown in euro covered market say bankers
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◆ 'Good outcome' for German states ◆ Spread to KfW tighter for longer maturities ◆ Prices tighter than 10 year deals from peers
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◆ Record book for the German state ◆ Länder-KfW spread now much healthier ◆ Strong bid for German assets at current levels
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◆ Eleventh sustainability bond helps issuer close in on funding target ◆ Twice covered book signals steadier euro market ◆ Supply slowdown is "creeping in"
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Banker brings wealth of experience from capital market roles
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◆ RBC leads European banks to funding in the US ◆ Once JP Morgan starts the third quarter bank earnings season local FIG bond wave could materialise ◆ This could keep market busy until US election
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◆ Dutch bank pushes sterling funding through its euro secondary curve ◆ Max size achieved ◆ Investors remain glued to the deal as they foresee performance amid supply scarcity
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◆ Another $500m no-grow launched ◆ Can’t stay away from the dollar market ◆ Fair value hard to pin down
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◆ ’One of the best trades’ from the past two weeks ◆ Dutch agency chooses short maturity ◆ NIPs have ‘crept up’ but deal priced tight