Nationwide leads Yankee charge following Fed meeting

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By David Rothnie
11 Jul 2019

Nationwide Building Society and Mitsubishi UFJ Financial Group joined in a Yankee stampede to the dollar market on Thursday, as issuers exploited red-hot funding conditions while markets rallied on a dovish message from US Federal Reserve chairman Jerome Powell.

With US banks shrouded in earnings blackout, Yankees grabbed their opportunity, with Nationwide Building Society printing a $1bn offering of 11 year non-call 10s at 185bp over US Treasuries on Thursday.

Meanwhile, Mitsubishi UFJ Financial Group became the third big Japanese bank this week to tap the ...

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