Currencies

A large drop in orders was not a surprise as CFF cranked the spread in

MAG’s tightly priced bond adds credence to claims that Thames Water’s woes are isolated

◆ Santander paid 10bp-15bp new issue premium ◆ Lead says paid up more because of market uncertainty ◆ Some bankers argue Middle East conflict ‘had no impact on pricing and execution’

World's oldest bank to offer a pick-up to recent Italian deals

Iran's aerial attack on Israel fails to rattle Europe's IG corporate bond market

◆ UK's biggest building society kicks off FY 2024 issuance programme ◆ Treasury deputy Collins on 'never being a forced issuer' ◆ Nationwide and Virgin Money combined issuance needs under consideration

Issuer lures three times subscription despite sell-off and will issue two or three further benchmarks

Move in basis swap rate brings Swiss franc funding costs in line with core markets

With no ECB there to offer boundless liquidity, some are warning of scares in secondary

Convincing banks to print is the barrier to issuance

Order books shrink when issuers tighten pricing as investor expectations of rate cuts shift

◆ Japanese lender moves first in dollars before CPI roils rate cut expectations ◆ Conditions stabilise by Thursday as Jefferies brings its largest bond ◆ New supply to follow April 12 bank earnings