Senior awaits crunch-time in Europe — covered bonds to follow ANZ sterling deal

The senior unsecured market traded nervously on Wednesday morning ahead of the EU summit in Brussels, with cash bonds and indices marginally wider as bankers debated the outcome of the meeting and disagreed over how many borrowers would be interested in tapping the market after the evening’s expected announcements. Meanwhile, bankers involved in ANZ’s sterling floater said the bank had moved to get senior funding in the door before the market was flooded by covered bonds from Australian lenders.