Covered Bonds
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Demand for the EFSF’s latest transactions may have been large, but the lack of quality interest ensured a damp reception in the secondary market, said unimpressed rates traders -
UniCredit successfully tested demand for an 11 year euro covered bond as a pair of issuers revealed twin tranche deal plans, which also included long dated portions
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Smaller order books but more asset managers expected beyond 10 year maturities
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Investors prefer something shorter given the rise in Swiss long end rates
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Pair landed close to fair value
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Aussie lenders set for an active 2022 in covered bond format
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Success at three tenors shows covered market is open across the curve
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A steep rise in yields since Christmas has helped propel demand for rates products, especially in the 10 year area, said bankers on Tuesday
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Strong issuance expected from Nordics in 2022, thanks to redemptions, ESG and central bank action
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Soft bullets set to become dominant strain of Dutch covered issuance
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German covered bonds to offer alluring relative value against EU govvies
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Australia, New Zealand and Singapore to look at covered bonds to finance life after central bank funding
