Covid-19: covered bonds holding steady
Apr07

Covid-19: covered bonds holding steady

Covered bonds have, once again in a crisis, become a preferred funding product. The public market is open: issuance has reached almost EUR 40bn in the last two weeks although it has become more challenging, as evidenced by 30bp-40bp of spread widening. “For now, we view this as an indication of changed investor perceptions of liquidity not concerns about credit quality. With 100bp widening seen on senior unsecured debt of the same...

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