Covered Bonds
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With spreads near year's tightest, banks may step up unsecured funding but investors may not be keen on low spread products -
Even the lowest spread deals look sweet when Swiss govvies are so tight
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UniCredit Italy sets a strong precedent many of its national peers plan to follow
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Canadians looks to sterling as dollars get ‘more challenging’
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German, Norwegian and Italian deals were successfully priced on Wednesday but lacked sparkle
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The EU’s 2042s have scope to perform against surrounding issues
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Crédit Agricole Italia and other Italian issuers to follow
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Deal priced a record 20bp tighter than Toronto Dominion's
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Westpac, CIBC and TD have also found sizeable dollar funding
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◆ High grade curves repriced after tight PfZ deal ◆ Australian lender scores 'significant' arbitrage with Sfr deal
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◆ Demand for Commerzbank deal less than expected ◆ 6bp-7bp of premium needed ◆ Senior unsecured supply glut eats up covered demand
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◆ UniCredit to end seven year absence from OBG mart ◆ More Italian deals set to follow ◆ Deal to offer RV compared to paper from more liquid jurisdictions
