Covered Bonds
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Long-dormant funding option to revive as conditions align with those in euros -
Borrowers got deals away but the high costs will deter others
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The EU is expected to tilt the bulk of remaining supply to the long end of the curve
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Covered concessions are hefty but costs and risks are far lower
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'Drive-by' trades a possibility, but most issuance is on hold until after this week's central bank meetings
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Eurozone banks could start repaying TLTRO loans early now it is more expensive, which may drive bond issuance
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The European Central Bank’s retreat from monetary easing should be nuanced and gradual
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Reinvestments limited this year and may cease altogether next year, say market participants
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Take two minutes to respond to eight multiple choice questions
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Shorter durations, higher concessions and smaller books spell trouble
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The sovereign bond rally has underpinned SSAs but covered bonds are softening
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Swiss covered bond issuer pays no premium for bumper triple tranche offering
