Currencies

◆ New €5bn line opened against ‘not easy’ backdrop ◆ Planned long-end OLO turned out to be 2042 ◆ Flexibility once again serves sovereign well

Loan brings to total revolving credit to £850m

◆ Athene prints £250m off £255m peak orders ◆ Spread lands at top of guidance ◆ Short-dated FRN a 'defensive trade'

◆ Talk of planned mandate change comes as bank raises €4bn ◆ More defence projects to become eligible for loans ◆ Deal not impacted, green label helped

An €800bn defence package was unveiled ahead Thursday's special defence summit

◆ Rates and geopolitical volatility weigh on investor sentiment ◆ Fast money investors show price sensitivity ◆ Low single digit premium paid

Listed investment company is striving to cut debt costs

◆ Bank of America and National Bank of Canada opt for Monday issuance in shortened week ◆ Somewhat weaker backdrop results in lower price tightening versus recent senior deals ◆ BofA boosts euro funding this year to €6.25bn

Scope warns country is ‘heading towards difficult budgetary trade-offs’ with increased defence spending

◆ 'Cheeky' issuers reference low coupon Gilts ◆ RBC prints £300m senior deal off £375m final book ◆ Speculation 'less sophisticated investors' not aware of Gilt anomaly

◆ Dutch insurance company prepares deeply subordinated issue amid weaker market ◆ But FIG's fundamentals unchanged ◆ Spike in rates may boost demand from yield buyers

Leads to use comparables ranging from South Korea to Denmark when pricing upcoming deal