STERLING

摘要

Bank nederlandse cemeenten jumped on the sterling bandwagon last week, but not quite to the same effect as the European Investment Bank the week before. The Dutch agency on Tuesday was in the market for a five-year benchmark with IPTs of 45bp area over the January 2021 Gilt. A £250m 1.125% May 2021 deal was priced in the afternoon in line at Gilts plus 45bp. At this level, the deal was comparable with the EIB trade from the previous week. The supranational printed a storming £1bn 1.125% Sep 2021 issue at Gilts plus 45bp, confirming that the sterling market was wide open again after a brief Brexit-related hiatus.