Opportunities abound in FIG as post-Draghi rally improves tone

Syndicate bankers expect a spree of FIG issuance beginning Tuesday, particularly in the senior market, as issuers look to take advantage of a rally in spreads triggered by Thursday’s European Central Bank meeting, at which its president, Mario Draghi announced rate cuts and other measures designed to stimulate economic growth. Public holidays across Europe have kept primary activity muted on Monday, but secondary spreads have rallied in suggesting the market is ripe for supply.