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Reforms should focus on banks' access to liquidity, not capital
Issuer has set the stage for peers to return to public market
Green investors buy when everyone else stops, giving issuers one last pricing lever — perhaps to cross a line none of them wants to reach
Investors are still around and issuers can get ahead of the September rush
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Whether Germany pushed investors too far this week was of secondary importance -
Sure, covered bond new issue premiums are back while order books are smaller — but good times are still to come
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Uncertainty over interest rate cuts creating big market swings means this year's phenomenal primary market for credit will deteriorate
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Sheer volume of issuance prevents sensible comparison to peers
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Investors keep showing up for deals that cheapen on the break
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