IG buyers snacking on sterling but licks lips for fat September in euros

After Shell printed its €2.25bn dual tranche bond on Wednesday, market participants are expecting an empty two weeks for issuance, before activity restarts at the end of August. That’s for euro houses though. Those banks with sterling operations are enjoying the fruits of Bank of England governor, Mark Carney’s anticipated corporate QE programme, which has accelerated pricing compression in the market. Sterling deal flow can keep pace throughout August it is hoped.