AFD
-
◆ Steep government curve means investors need less spread on top ◆ French spreads widen, but AFD tightens ◆ Fair value 'a fluid concept' on inverted curve -
◆ Antoine Mannevy at AFD on UK political uncertainty ◆ Cross-currency inside euros keeps sterling arbitrage alive ◆ Mid-July deadline gone, another deal possible
-
◆ French agency rehabilitated after sovereign's fiscal and political wobbles ◆ Bankers estimate spread over French peers ◆ Cross-currency arbitrage versus euros weighed
-
Thibaut Makarovsky, head of funding and market operations at AFD, discusses his recent dollar trade and funding plans
-
◆ Arbitrage for French issuers ◆ Slim premiums paid ◆ Demand 'not endless' but tone 'very constructive'
-
AFD's Thibaut Makarovsky discusses recent dollar deal
-
◆ AFD gets €8bn-plus book for new 10 year ◆ 'Very positive' start to 2026 for French issuers ◆ EDC back in euros with 'smooth' deal as usual
-
Threat of tariffs between Nato allies push EGB yields down but 'sustainable shift into risk-off' not expected — yet
-
Next year’s programme stable at around €9bn, and issuer thinks its new risk-weighting should be better than some thought
-
Issuer takes big size ahead of blackout, offering ‘right’ products to investors
-
◆ Issuer well funded already ◆ Tightens 3bp, no fair value consensus among banks ◆ Demand covers size over three times
-
◆ More agencies jump into dollars ◆ AFD reopens French SSA dollar supply ◆ NWB beats size goal
