Currencies

The asset manager sees higher demand than ever as direct lending proves solid during a crisis

◆ 'Gangbusters' outcome as books hold ◆ Mix of accounts hunt for senior paper ◆ Jyske Bank prices senior non-preferred

◆ UBS's covered programme now 'well-known' a year after launch ◆ Investors like the chance to pick up triple-A rated Swiss risk in euros ◆ Premium needed for contractual structure

◆ Tight deal proves popular ◆ Investors eager to buy seven year paper ◆ Achmea's secondary curve points to higher fair value

◆ Holding company starts around 40bp wide of fair value ◆ Demand pours into the book ◆ Borrower pays single digit new issue concession

◆ Big books and 0bp to 2bp concession for Orange ◆ US-China trade agreement buoys markets ◆ Premiums tipped to rise

Canadian borrower mandates for deal ahead of what is forecast to be a big week for issuance volumes

Almost Sfr3bn printed in first week of May as Swiss franc mart shakes off tariff spectre

What is good for equity markets may be bad for Treasuries

Federal Reserve kept rates steady but only one company emerged after FOMC meeting

◆ Handful of European banks go Stateside after quarterly earnings ◆ Some revisit dollar funding despite it not offering best relative cost ◆ HSBC goes for size as its triple trancher surpasses BofA's $5bn print

‘Rammed’ week ahead with EGBs, EU, EIB, KfW and many smaller names expected to keep investors busy