Currencies
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Investors overlook short-term oil uncertainty in favour of a long-term view on the sector
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French agency to revive long debated funding format to finance SME lending
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Second hybrid is among the deals that the MDB hopes to bring later this year
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International issuers look to Swissies for diversification, even if costs are higher
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◆ New environmental bond had a large size ◆ Book size was another record ◆ Pricing was close to the tightest European names
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Issuers leave concessions on the table as investors look more closely at individual names
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New issue premiums evaporate as investors lap up yield and spy top of rate mini-cycle
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Merck & Co and Ecolab Inc raised a combined $11bn as they took advantage of strong investor demand and tight spreads
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Tight spreads are offering attractive funding climate for foreign as well as diverse US financial institutions, including those exposed to private credit
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Peace agreement will be needed to restore normal enthusiasm
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Borrowers want to issue and spreads are tight, but execution windows are very unreliable
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Burst of deals this year in uneven market suggests investors want alternatives to Treasuries