Currencies
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Manufacturers and suppliers have been hit hard by costs and Chinese competition
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Investors are eager to put cash to work in FIG bonds even though last week ended with concerns about bad loans
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Issuers' desire to put covered pre-funding to one side suggests concerns over bumps ahead
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◆ No competition from similar Contact Energy ◆ Stedin seals larger than average spread move ◆ Investors left book as price ground tighter
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◆ Investors leap at chance to buy rare Kiwi corporate risk ◆ Green bond's price move surpasses expectations ◆ Pricing in euros 'competitive'
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Further long-dated SSA issuance is expected to be limited given funding requirements
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◆ Tightest SNP in euros since January 2022 ◆ 38% book attrition ◆ 'I'd rather be holding one of the best banks in the world'
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◆ Alpha enjoys IG welcome ◆ Order book five times subscribed with a touch of concession ◆ South European banks' 'convergence pattern'
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With the Fed tipped to ease again, bankers say curves could grind flatter at the front end
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◆ Nearly $12bn of orders for long-dated dollar deal ◆ Official money places chunky bids ◆ Bond performs, pulls peers’ spreads tighter
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◆ Peak demand tops €2.4bn ◆ Spread tightened sharply from IPTs ◆ Spread to senior paper higher than recent deals
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◆ Starting level based on price sensitive investors ◆ Some French accounts less active ◆ Issuer has shorter duration needs than peers