Identity crisis

Pfandbriefe

Although demand for German covered bonds (Pfandbriefe) primarily blows hot and cold based on Bund swap spreads, credit quality is an additional factor that is weighing much more heavily on the sector. Tight swap spreads and concerns over credit quality represent the worst sort of combination, but that is what the market is facing currently.

“It is not easy to sell this credit at the moment,” says Christoph Anhamm, covered bond analyst at ABN Amro in Frankfurt. “We are now seeing pretty tight

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here