Bank of America
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◆ Sovereign takes a ‘totally crazy’ book ◆ Central bank policy meetings created a helpful backdrop ◆ Long maturity offered ‘attractive entry point for investors’ -
A busy pipeline is forming in the SSA market as the EU preps its next scheduled transaction
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◆ Record size, record book and record investor offers ◆ UK financial year syndication target 80% complete ◆ Demand diversity ‘very notable’
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◆ DMO completes hefty chunk of syndication target ◆ Record size, record book ◆ Demand for 15 year 'encompasses a broad range of investors'
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◆ Kommuninvest spread surprises bankers ◆ KommuneKredit takes twice covered book ◆ ‘A tough one at the moment’ for euros
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Bankers split on expectations as ‘everyone has been in the market’
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◆ Issuer takes advantage of robust short end demand ◆ Size is ’best outcome’ for investors ◆ Tricky balance of swap and US Treasury spreads
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◆ Historically big print in the tenor ◆ Dollars the best option ◆ Central banks and official institutions show up
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◆ Last dollar benchmark of 2024 is a five year ◆ Spread tightened despite tight start ◆ ‘Very strong print’ at a ‘carefully chosen spot’
