Covered Bonds
-
German issuer de-risked the trade but deals next week may say more about sentiment -
German issuers lining up themed follow-on new issues
-
Investors are ‘keeping their powder dry’ for September
-
Steep rise in yields since mid-July is expected to draw in real money
-
First deal in a month is likely to test demand and price expectations at the five year point
-
Busy week across products and currencies reduces chance of saturation
-
Core European banks are likely to pave the way
-
UK bank prices largest single tranche covered bond from a foreign issuer in Swiss francs for over three years
-
ABS, and euro and dollar covered bonds, may be preferred instead
-
A widening in the Schatz swap spread should have caused more buying
-
Senior spreads widen, but OBGs unchanged as supply eyed
-
Syndicate hopes to deliver Lloyds diversification at a saving
