Covered Bonds
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Decent sizes available in Swiss francs for high quality offshore names -
Local investors are eager to buy covered bonds that pay floating rates
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Although the spread between Pfandbriefe and cantonal bank paper has widened, both still remain attractive
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A mix of deals are expected to follow stable market opener
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Despite average concessions rising throughout 2022, prices are 'manageable'
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Covered bonds to end 2022 with net-negative new issuance
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Investors show that even during summer they have cash to put to work if the deal is right
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Defensive €250m no-grow sale set to tap into short end demand
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Widening in local currency benchmark covered bonds makes new domestic issuance unattractive
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Central bank’s weekly purchase of covered bonds dropped by almost 15%
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€500m Pfandbrief achieves issuer's largest book on covered bond
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The market was on fire this week, with seven deals emerging over three currencies
