A tight cross-currency basis swap at the start of 2020 is limiting the opportunities that usually exist for offshore borrowers in Australian dollars at the start of each year. Traders expect pressures in short- and long-term funding markets to continue to influence the basis, which could pose an ongoing challenge for Kangaroo issuance.
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The annual guide to the world's most significant supranational, sovereign and agency sector issuers.
The following interview is with a funding executive at a European issuer in the supranational, sovereign and agency sector. It was conducted on 19 March 2020.