Covered Bonds
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Communications about capital markets issues like IPOs have to be true — but that does not make them meaningful -
Banks could be affected in medium term if fiscal policy turns loose, though most FIG issuers are well funded for this year
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Shorter deals and higher premiums needed to secure covered sales
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◆ Debut deal arrives two weeks after being mandated ◆ Anchored by a single order ◆ Small premium offered
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GlobalCapital launches innovative database of new bond pricing dynamics
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◆ Small premium needed to reopen the market ◆ June supply approaches record low ◆ More deals set to follow
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◆ Sterling sale surprises to the upside ◆ Investors appreciate pick up to domestic names ◆ Small premium paid
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◆ German lender preps first euro covered in two weeks ◆ Defensive tenor chosen ◆ Market unsure how much read across reopener will have
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◆ Banks need a bond market leader, just not a French one ◆ From Golden Goose to lame duck ◆ CMBS problems, rise of solar ABS
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The market wants a highly rated national champion — just not a French one — to be its knight upon a fiery steed
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◆ Pair met investors last week ◆ Volatility dampens covered bond supply ◆ Market would like ‘frequent issuer’ reopener
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It was the best of times, it was the worst of times to execute a deal mandate
