Covered Bonds
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Building society also paid a healthy premium to buy back three RMBS -
Reducing duration was more important than bond selection in outperforming the index
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Last week’s bonds from the European Union have performed well, boding well for next week’s auction and another syndication in the following week
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Another big week of issuance but no sign of investor strain
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The bond was priced flat to Westpac with unusual co-lead demand
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Spreads in the asset class are expected to drift wider well into next year
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- Will the Santa rally in bonds last until Christmas? - How much bond issuance will TLTRO repayments drive? - Ithaca Energy: autopsy of an IPO
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All eyes are fixed on November early repayment data for clues about bond volumes
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Converging funding costs to euros will revive dollars further
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High repayment of ECB funding will suggest elevated covered bond issuance to come
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The European Union’s syndication was priced cheaply in a receptive market
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Curve inversion makes fives problematic for issuers outside Europe
