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Agency spreads widen slightly; FHLB upsizes, prices $5 billion global issue
By Lisa Kerner
Charlotte, N.C., June 11 - Agency spreads were slightly wider on Thursday, that same day the Federal Home Loan Bank Systems priced its new $5 billion two-year global, according to a trader.
The global priced at 32 basis points over Treasuries, FHLB said.
That was 2 bps tighter than the 34 bps than had been expected by the market when the global was announced Wednesday.
After pricing it traded as tight as 28 bps and ended the day at 30 bps over Treasures, the trader said.
The bond was originally sized at $2 billion and upsized twice, to $4 billion and then to $5 billion, according to the trader.
FHLB priced the 1.625% global at 99.905 to yield 1.671%.
Barclays, Deutsche and Goldman Sachs acted as lead managers.
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