Americas
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Come May, current dollar market's gain may turn into euro pipeline's pain -
All three 2026 dollar covered bonds issued in past fortnight as issuers adapt to market conditions
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Fondo Mivivienda restarts issuance, but is not the best read across for most LatAm issuers
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◆ US connector producer brings five year deal ◆ Books peak above €4bn and stay firm ◆ Corporate supply slows as volatility keeps issuers on the sidelines
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Executive is moving to more senior role
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Higher yielding bank capital remains popular in dollars as HSBC stretches out to a 10 year non-call period
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The US dollar market buoyant this week despite escalating hostilities in the Middle East
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Issuers struggle over what concessions investors will require
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◆ Deal came after recent Ontario 10 year ◆ Ontario underperformed but still a key comp ◆ Some price sensitivity? No bother
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Concessions climb as Middle East war rocks sentiment and Amazon redefines clearing levels
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◆ First unsecured euros FIG deal in 17 days ◆ Inaugural green tranche from BMO ◆ Concession left on both tranches
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◆ Corporate bond market fizzes with multi-tranche, multi-currency deals ◆ Marketing helps spur strong outcome ◆ Proceeds to fund coffee subsidiary spin-off
