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...Additional reporting by Tracy Alloway...
...Additional reporting by Tracy Alloway in New York...
...Covered bonds, a type of packaged debt considered ultra-safe by investors, could replace about €180bn of the European bank debt redemptions coming up, says SocGen’s Mr Mann....
...If sovereign and banking stresses continued, “we will be looking at what will surely be a catastrophic, historically low level of senior unsecured issuance level for 2012”, Suki Mann, SocGen credit strategist...
...“It’s difficult to see where there is any upside unless one really believes a credible solution is likely to the sovereign crisis,” Société Générale credit strategist Suki Mann said in a note to clients...
...“The markets have gained massive support here, but there has been no rush to get invested,” said Suki Mann, credit strategist at Société Générale....
...“This is the best rated bank in the world on a standalone basis and they paid about a 20bp new issue concession for the privilege of issuing,” said Suki Mann, credit strategist at Société Générale....
...The offer “represents, quite obviously, a fantastic return for holders,” added Mann....
...“With sovereign risks escalating, the market would balk at a guarantee from most sovereigns,” says Mr Mann. “That leaves a possibly expanded EFSF to come to the rescue....
...“Deutsche Bank is probably one of the few institutions that can still get a deal done – although they paid up for the privilege,” said Suki Mann, credit strategist at Société Générale....
...“We’re almost at the end of a quarter and we’ve seen just one single senior deal from a eurozone bank,” said Suki Mann, credit strategist at Société Générale....
...With yields on the debt breaching the 7 per cent level on Wednesday, the Italian government may start to look inward for investors – again, writes Tracy Alloway....
...From Suki Mann, credit strategist at Société Générale: As a testament to the virulence of the sovereign weakness, the Bank of Ireland did a three-year government guaranteed deal on 27 October which is now...
...The below from Suki Mann at SocGen: And in words, from the Société Générale credit strategist: The selling cares are in €2-3m clips – the market won’t really take any bigger sizes....
...In stripping down some of the careworn myths surrounding her life, Mann inevitably makes it less conventionally interesting: the fabled romance with Spencer Tracy may have been a passionate affair; but it...
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