Free Trial

Record Demand At Greek Syndication, '21 Tights eyed In GGB/Bund 10-Year Spread

EGBS

Today’s 10-Year GGB syndication generated record demand (books in excess of EUR35bn, including JLM interest), with the combination of Greece’s return to IG credit rating status, expectations surrounding Greek fiscal dynamics and focus on an expedited start re: the ECB easing cycle (promoting demand for carry plays) providing tailwinds for demand, allowing pricing of the syndication to tighten through initial guidance. The 10-Year GGB/Bund spread has moved below 100bp and GGB bulls now eye the mid-’21 closing lows (97.97bp), which is within touching distance.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.