Covered Bonds
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◆ Aussie lender ends more than two year absence ◆ Little or no premium paid ◆ Deal lands close to eurozone paper -
Investor sensitivity means lower spread moves and smaller book cover levels
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◆ Mid-single digit premium paid ◆ Deal attracts slim yet granular book ◆ Benchmark Austrian supply down by two thirds
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The Aussie bank will visit four European cities next week during the deal's roadshow
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Why big money hiring fails so often in investment banking
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The euro market has struck a delicate balance when it comes to pricing and sizing
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Diverse range of deals shows investors remain eager to play as diversification considerations intensify
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US covered bonds could fill the triple-A rated void left by the sovereign's downgrade
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◆ PBB opts for four year deal ◆ Marginal drops as German issuer tightens spread ◆ Investors appreciate the room for performance
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◆ Single digit premium paid ◆ Slim pick up offered over Canadian peers ◆ Canadian covered paper lower in euros this year to date
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◆ Bookbuild momentum slows due to Bloomberg outage ◆ Multiple ways of coming up with the same fair value ◆ 10 years appeals to duration and yield seekers
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Deals across asset classes are back on track after unusual marketing extension
