Market Rumors: ECB, First Gulf Bank, Bangkok Airways

By Chelsea Naso (October 20, 2014, 6:18 PM EDT) -- The European Central Bank snapped up covered bonds for the first time since President Mario Draghi unveiled an asset purchase program last month, Bloomberg reported Monday citing people familiar with the situation. The ECB is said to have bought short-dated French notes from Societe General SA and BNP Paribas SA, as well as Spanish securities from other lenders, amid slowing euro-area inflation, the report said. The 250-year-old covered bond market helps fund Europe's mortgage industry, and the bonds have been historically attractive because they are guaranteed by the issuer and backed by a pool of assets....

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