Currencies

Equalising risk weightings of covered bonds and resilient STS securitizations at 5% is sound

Unsecured bonds could become more expensive to issue, covered bonds cheaper

Dollar corporate issuance could close to $1tr in 2026, say analysts

EU bonds perform, even after €30bn rise to annual issuance ceiling for 2026

Diverse mix of companies to get issuance going but will have to navigate Epiphany

When the dollar market re-opens on January 5, bankers expect a stampede of Yankee banks

Investors look to short-dated sterling as more rate cuts from BoE expected

Tight funding levels and an abundance of investor cash made for brisk MTN issuance in 2025. The story may change in 2026, with public market issuance named as one factor that could crowd out private placements. But a broadening Asian bid for MTNs offers hope for the market, writes Diana Bui

With Latin America bond issuance smashing through its previous record, market participants think the peak has passed. A market tipped to turn tougher is the reason, which will make 2026 a year when issuers and bankers will have to earn every basis point, writes George Collard, with volumes expected to stay high

Record issuance volumes met insatiable investor appetite to lock in yields before rate cuts bite, resulting in tight pricing across bonds and sukuk, writes George Collard. An already healthy market shifted up a gear from September as order books swelled and issuance accelerated, especially of sukuk

A booming 2025 investment grade corporate bond market in Europe set a high bar as investors brace to pay higher premiums and shift to the belly of the curve in 2026. Meanwhile, capex, M&A and Reverse Yankees look set to keep the pipeline full, write Diana Bui and Frank Jackman

The euro covered bond market shook off a volatile end to 2024 to rebound with a raft of exceptionally popular deals in 2025. Investors appeared eager to pile into euro covered bond books this year, propelling bid-to-cover ratios upwards and new issue premium downwards, writes Frank Jackman