Currencies
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◆ Quick into market after Trump pauses tariffs ◆ Lands close to fair value ◆ Defensive tactics in bookbuilding -
Loss of LCR eligibility could hit sterling covered demand, but issuers expected still to come
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Investors selling into secondary market bounce
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SSA market most bullish but some in credit, emerging and equity markets still unconvinced anything has changed despite 90 day tariff reprieve
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Window for unsecured FIG syndications closes once more
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Recent Länder trades shed some light on primary market for covered bonds
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◆ Second German state braves this week's volatility ◆ 2bp NIP is ‘fair enough’ for Länder ◆ ‘Important to keep market open’ and encourage others, say bankers
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Markets roil as investors try to decipher if issuance will bounce back or slowly return
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'Not much supply in immediate future' as volatility cripples issuance
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◆ Issuer steps on the accelerator to price fast ◆ ‘Lengthy’ discussion and ‘a lot of thought’ given to timing, pricing strategy ◆ Higher NIP and limited tightening encourage investors
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Warren Buffett's conglomerate was the largest foreign issuer of yen bonds last year
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Banks could get stuck with large exposures they cannot offload
