Covered Bonds
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Elevated new issue premiums are likely needed for any issuer contemplating a covered bond longer than five years
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The bank has issued more in 2022 than in the past three years combined
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Issuer decided against a 10 year deal on its way to a chunky long five year
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Dealers believe sell-off in fixed income is close to an end
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UniCredit and BMO unable to tighten pricing, CRH hoping for better
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Many Swiss investors are staying on the sidelines, but there is hope for fourth quarter supply
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Market keeps a calm head amid chaos and absorbs rare social bond
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The more the product basks in its own glory, the greater the problem
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Fourth quarter issuance boost likely as funding anxiety mounts
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Six issuers are planning deals with UniCredit among them
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The issuer failed to tighten pricing despite a handsome premium
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Spreads in the SSA and covered bond markets were well supported on Tuesday but an inverted yield curve is a cause for concern, suggesting the long end will remain vulnerable