Covered Bonds

◆ Canadian bank priced the only covered bond on Tuesday ◆ Lead said issuer paid just outside fair value ◆ Sfr325m deal was 'a strong outcome'

Rate increases could be closer than you think

Israel's biggest bank by assets picked Barclays, Goldman Sachs, JP Morgan and UBS as bookrunners

◆ Orders pour in, crushing new issue premium ◆ Pricing well through French sovereign ◆ Market warming to longer-dated paper

In the league table game, it’s where you finish that’s most important but making the best start is almost as critical

Middle of next week eyed for first deals of year

Spanish bank's research says heavier-than-normal redemptions in 2026 will pressure euro covered net supply

Tighter senior-covered bond spreads could see issuers prioritising unsecured over covereds

Equalising risk weightings of covered bonds and resilient STS securitizations at 5% is sound

Unsecured bonds could become more expensive to issue, covered bonds cheaper

We are proud to publish our special report, which looks ahead to 2026 across all asset classes and recognises the best new bonds of 2025

The euro covered bond market shook off a volatile end to 2024 to rebound with a raft of exceptionally popular deals in 2025. Investors appeared eager to pile into euro covered bond books this year, propelling bid-to-cover ratios upwards and new issue premium downwards, writes Frank Jackman