Currencies

HSBC leads Yankee charge as banks took advantage of tight spreads to bring forward 2025 funding plans and fulfil some of their riskier commitments

Interest from assets managers led the German bank to issue a rare fixed rate sterling deal

Fresh supply sets 'encouraging' tone for January — but issuers should expect to still pay up

Big order books and political changes to come raise chance of opportunistic issuance continuing deep into end of year

◆ Supra returns after two-year hiatus ◆ Deal reopens SSA benchmark issuance, paused since late October ◆ Relative value in focus after end of ECB buying, recent swap moves

◆ Deutsche prints popular €1.5bn deal as investors fight for higher absolute yield ◆ Yield chase prevalent in dollars a day after return of tier ones ◆ SocGen, NatWest market dollar AT1s

London's airport is the third foreign corporate to tap the Swiss market this week

BP hybrid sees one of the smallest books of the week

◆ Dutch bank raises A$1bn via local branch ◆ Aussie covered supply significantly down ◆ Tight senior/covered spreads push local major banks elsewhere

Banking borrower does not get same boisterous demand as other recent automotive deals

◆ German bank prints popular tier two under new green funding framework ◆ Label a positive ingredient, says rival banker ◆ Funding completed at no concession

Billions fall out of Stellantis's book after tightening by 40bp during bookbuilding