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◆ Second German state braves this week's volatility ◆ 2bp NIP is ‘fair enough’ for Länder ◆ ‘Important to keep market open’ and encourage others, say bankers
'Not much supply in immediate future' as volatility cripples issuance
◆ Länder's 10 year 10bp back from KfW ◆ Deal over three times covered ◆ Trade 'could encourage' further German state issuance
◆ State raises €625m as markets sink ◆ Spread hungry bank treasuries drive demand ◆ 7.5bp pickup over KfW
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New sale landed with a limited new issue concession, bankers said -
SSAs look increasingly expensive versus government benchmarks, raising the question of when investors will stop buying
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Sub-sovereign continues to chip away at its €9.6bn annual programme
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German sub-sovereign brings new deal as investors distracted by busy FIG market
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Well-funded SSA issuers take their time, but weak secondary performance worries bankers
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Germany SSA repricing needed but will Länder have to cheapen, or does KfW have room to tighten — and when?
