Covered bonds expected to reopen FIG, when time is right
Financial markets weakened further on Thursday, as the economic impact of the Covid-19 coronavirus epidemic scotched any chance of primary market activity, said bankers. A period of stability is necessary before new issuance can restart, they said, at which point covered bonds will be the product of choice.
Sentiment in the covered bond market was "bifurcated", according to one banker who said some participants were upbeat. But others said that even the strongest borrower would struggle to get a deal done.Provided markets can stabilise, a “national champion” could reopen the FIG market with a ...
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