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Inflated order books are only becoming more prevalent thanks to the European Central Bank’s increased firepower. The way to properly deal with this issue is through a collective effort from every corner of the capital markets.

It was a long time coming, but Greece finally completed its curve with a 30 year bond on Wednesday. This was its first in the tenor since before the global financial crisis. The bond was a success, despite a choppy backdrop.

Japfa Comfeed Indonesia sold the country's first sustainability-linked bond this week, leveraging the market fervour for environmental, social and governance (ESG) investing to tighten pricing more than it would have for a conventional deal. Morgan Davis reports.

There are more risks than rewards for banks in the primary market right now.

The Asian Development Bank broke a decade-long absence from China’s domestic market to price a Rmb2bn ($307m) Panda bond at a record low spread this week. Its assistant treasurer told GlobalCapital that the multilateral development bank is open to selling longer dated and green renminbi-denominated deals. Addison Gong reports.

The London listing review, out this week, has been hailed as a vital chance for the City to straighten its slipping crown as Europe’s top financial centre.

The US convertible bond market is charging ahead despite a sell-off in technology stocks over the past fortnight, with multiple jumbo transactions this week from some of the world’s best known companies. The frenzy has left many wondering what it will take to derail one of the hottest corners of the capital markets. Aidan Gregory reports.

Korea Development Bank has set a new benchmark for Asia by selling the region’s first SEC-registered Sofr-linked floating rate dollar note. It gives further momentum to the use of the new Libor replacement rate, amid an expected spurt in FRN issuance due to volatility in interest rates. Morgan Davis reports.

NatWest expanded its environmental, social and governance (ESG) offering with its debut social housing bond this week, the first from a UK financial issuer, landing the €1bn deal well through fair value.

The Export-Import Bank of Korea returned to the offshore renminbi bond market after nearly three years this week. It took advantage of a recent rally in the CNH swap rate to raise Rmb1.5bn ($232.4m). Addison Gong reports.

There were flashbacks to last month’s Spanish syndication in the bond market this week as Italy made an emphatic start to the Draghi era in the BTP market. The borrower shed billions of orders on Tuesday after aggressively pricing its first syndication since the appointment of the ex-ECB chief as the country’s prime minister. Burhan Khadbai reports.

Two factors bear outsized influence on capital markets — Covid-19 and central bank stimulus. But the temptation to see these powerful forces culminating in one of two extreme outcomes — another crash as a feeble economy flounders, or a boom like the 1920s US — must be resisted.