◆ Japanese lender moves first in dollars before CPI roils rate cut expectations ◆ Conditions stabilise by Thursday as Jefferies brings its largest bond ◆ New supply to follow April 12 bank earnings
◆ All issuers complete deals with seemingly no competition among them ◆ Three banks choose short and mid range maturities to tap different investors ◆ Market remains receptive for more issuance
◆ Investors find tier two FIG debt appealing ◆ Simultaneous execution helped by supply and demand mismatch, ECB rate cut expectations ◆ Both deals land flat to FV with multiple times coverage ratios
