‘Mispriced’ senior to stay super tight after wobbly week

By Tyler Davies
10 Aug 2017

Credit spreads flicked wider this week but bankers are confident the weakness will be short lived as demand for new bank bonds is expected to continue to outstrip supply in the second half of the year.

Bank senior bonds drifted a few basis points wider in the secondary market on Wednesday, tier two instruments were marked about 7bp-10bp wider and additional tier ones (AT1s) fell in cash value by about 0.25-0.50. But asset prices recovered some of their losses on Thursday in a more ...

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