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The US dollar market buoyant this week despite escalating hostilities in the Middle East
Corporate and unsecured financial issuance unlikely to restart in earnest as yields climb
◆ New paper subordinated to existing hybrid stack ◆ Investors keen to pick up high yielding deal ◆ Deal seen as a sign of commitment to hybrid capital
Concessions climb as Middle East war rocks sentiment and Amazon redefines clearing levels
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◆ Finnish utility sells 7.7 year bond ◆ Peak demand tops €2.8bn ◆ EuGB label credited for 'few basis points' of greenium
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◆ Belgian utility joins EuGB club ◆ Scentre tightens hard on €500m deal ◆ Primary market slows in anticipation of US shutdown volatility
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◆ Price sensitivity returns as deal premium shrinks ◆ Final book dropped by more than half ◆ Deal did not go as well as TfL's sterling trade, say bankers
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◆ Oversubscription lets leads skip guidance ◆ New issue premium in low single digits ◆ Solid bid despite CEO uncertainty
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◆ Some investors pass over ESG but other factors prove a lure ◆ Orderbook more than three times deal size at peak ◆ Attrition as spread tightened
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Strong captive green demand keeps euro benchmark books sticky