Coco confusion as Barclays execution stutters

FIG market participants were bemused on Wednesday as Barclays’ much lauded contingent capital trade fell a little flat, with some blaming an execution process that they described as shambolic. Some suggested the bank had tripped over itself in the rush to be the first into the market after the Bank of England revealed a £25bn capital hole at UK banks last week, although Barclays said the trade was opportunistic.