Covered Bonds

Deal came flat to recent Pfandbriefe and offered a negative concession

◆ Slightly positive overall mood in markets on Monday ◆ Biden dropping out has no immediate impact but volatility may come later ◆ Potential issuers monitoring Monday's market moves

◆ First Pfandbrief issued under new digital securities law ◆ Cover pool will be signed off on the chain ◆ Pricing expected next month

French covered bond spreads may be alluring, but issuance will be muted for the rest of the year

◆ Swedish supply down in euros ◆ Domestic market offers better alternative ◆ Euro issuance to pick up in the autumn

Safe senior bonds are all well and good — but refinancing capital will show just how far investors' appetite for property-heavy banks goes

◆ Crédit Mutuel sells first French covered since parliamentary election ◆ French firm goes for size over price ◆ Small premium needed for 'defensive' deal

◆ Well funded banks in no rush to print ◆ Reporting season, summer holidays dampen supply ◆ 'One or two' frequent names could still print

A holiday is supposed to be all about relaxing, letting loose and shaking off the daily grind. But for those in investment banking, planning a getaway is often riddled with work complications. Where you go, when, and what you do can be much more fraught questions for financiers than for others

More deals expected in the coming months as conditions improve

New issue premiums are minimal again

Regular issuer targets more size, but still lands in line with most recent trade from Pfandbriefzentrale