Currencies
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Opportunistic issuers line up, but odd swap spread moves could drain demand from asset class
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Three issuers hit the market on Thursday, as pipeline builds for next week
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◆ Société Générale prints dual-tranche senior ◆ Bankers agree on new issue premium ◆ Some question two year format
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Decent response from investors suggests next week will be busy in primary market
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◆ Multiple factors lure buyers to rare deal in the asset class... ◆... after strong credit rally following US elections ◆ Positive new issue premium reinstated
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German political instability push Bunds yields up, reducing prospects of a covered bond revival
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Class A bondholders expect to get a quorum for the lending deal the utility agreed to
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New loan also removes dividend cap restrictions
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Old Lady delivers 25bp cut and adjusts inflationary forecast after UK budget
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A dollar deal may be on the cards after a recent sterling trade
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‘Difficult’ few weeks ahead as negative Bund-swap and wide SSA spreads take toll
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SMBC moves out of lending group in refinancing