Australian dollar

Higher coupons and steady rate expectations draw investors back into the currency

◆ Treasurer says EDC 'purposely waited' for benign US CPI print ◆ Central bank share of dollar order book swings 10% higher ◆ Hedge funds at the table and 'have a role to play'

SSA issuers increase focus on PPs amid quieter period for public markets

Growing investor base fuels record year for corporate Kangaroos

French utilities firm to jump into Aussie dollars with hybrid and senior bonds

Kangaroo and Panda market grow as banks create US dollar FRNs to meet Asian demand

◆ Simultaneous execution with Alphabet's record deal bodes well for others ◆ More FIG names likely to print in near future ◆ Other European banks diversify funding in Singaporean and Australian dollars

◆ Issuer plans regular appearance after 'warm welcome' ◆ Two euro bonds yet to come ◆ Inaugural covered deal not expected until late 2027

◆ Deal only the second ever Kangaroo hybrid ◆ Concession offered on all three tranches ◆ Verizon increasingly looking abroad for hybrid funding

Any deal would be the first French agency Kanga in more than 15 years

Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital

◆ First two-part AT1 euro deal since Intesa's own in 2020 ◆ Funding establishes a flat curve ◆ Intesa, BNP Paribas both observe investors' reset spread threshold