Covered Bond & RMBS Comment – French public sector deal starts H2 issuance

Credit Agricole in market with EUR 500mn 10y public sector deal IPT has been set at ms +7bps, we see fair value at ms +low single digits French issuers have been most active in H1 2017, probably due to elections Most deals were in the 6y to 10y bucket CBPP3 paper...

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