Belgian Sovereign
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Yves Dupuy, Société Générale’s former chief information officer for global banking and investor solutions EMEA, has joined post-trade infrastructure company Euroclear as its CIO, a newly created role. -
Last week's crop of benchmarks have been subjected to the scrutiny of the BondMarker voters and, on the whole, they were pretty impressed.
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It was a week of blistering conditions in the SSA dollar market but the pace of issuance has slowed a little in comparison to the glut that defined the few weeks of September.
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Two more public sector borrowers brought strong trades to finish a bumper week of dollar deals, both printing $1.5bn of short end dollar paper.
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A glut of short end dollar issuance this week is set to ramp up on Thursday, after a pair of rare names in the currency mandated on Wednesday. The trades will follow a strong showing from Finnvera after the Finnish agency — also an uncommon name in dollars — printed its largest ever trade in the currency.
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Strong short end dollar demand led a host of issuers to print tight deals this week, including one debut. Investor appetite is expected to stay strong, but bankers are sceptical that there will be much supply.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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The euro market, despite a week shortened by European holidays, churned out a steady diet of solid deals. The French election, credited with triggering the rally, is growing more distant but the bid for quality fixed income paper remains as healthy as ever.
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The Flemish Community’s second ever outing in the public debt market raised €1.25bn over two tranches, pulling in large books and setting the final spread 4bp inside guidance on one of the legs.
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The Kingdom of Belgium hit the long end in euros on Tuesday, taking advantage of a healthy market to raise €3bn with a 20 year bond. Meanwhile, Nederlandse Waterschapsbank (NWB) announced a tap of a 2041 line.
