H2 supply forecast at Eu35bn, spreads seen supported
Posted on 3 July 2017
Around Eu35bn of euro benchmark covered bond issuance is expected in the second half of the year, implying that 2017 supply could fall short of many initial forecasts after TLTROs cut into H1 issuance. Net supply is seen remaining negative, supporting spreads as the prospect of ECB tapering nears...
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