◆ German bank brings dollar AT1 after June's euros print ◆ Potential UniCredit takeover partially factored into pricing ◆ Deal offers premium to European peers
◆ Two non-EU banks hit the senior market with green bonds ◆ SMFG's first deal in 15 months benefits from scarcity value ◆ Landsbankinn compresses Icelandic bank spreads but pays higher premium than larger European issuers
◆ Emerging market and financial institution bonds on fire after Fed cut ◆ Huge demand spurs massive issuance ◆ But signs of weakness appear in corporates and public sector bonds
◆ Austrian bank returns to senior market with a green bond for first time since January 2023 ◆ Since then it has issued a covered bond and two types of capital ◆ New deal is longer and tighter than last year's funding
