Guaranteed or bust

Government guaranteed banks, along with a handful of other triple-A issuers, are dominating the MTN market as the year draws to a close. Following Commonwealth Bank of Australia’s first guaranteed note of last week, ANZ Bank and National Australia Bank have also issued guaranteed private placements. Issuers in other jurisdictions, including Swedbank, Anglo Irish Bank and Royal Bank of Scotland, have also continued issuing guaranteed notes. EuroWeek will have details on these and other trades.