Currencies
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Agency joined SSA peers to confirm that ‘there is demand’ in this market -
Asset managers less concerned about missing out on covered bonds, argue some bankers, while others highlight the relative value versus SSAs
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◆ Investors find tier two FIG debt appealing ◆ Simultaneous execution helped by supply and demand mismatch, ECB rate cut expectations ◆ Both deals land flat to FV with multiple times coverage ratios
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Auto company one of raft of IG corporate mandates in ECB meeting week
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Bondholders and lenders given formal notice of default
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Promise of arbitrage draws foreign borrowers to Swiss franc market
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Investors have swarmed to FIG FRNs despite looming interest rate cuts
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Rates backdrop causing greater order book attrition in dollars as spreads grind tighter in euros
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Issuance to pick up, but funding officials could favour more attractive senior unsecured deals
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Nordic supra plans to keep up pace of issuance into the summer
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Blowout early issuance volumes as market prepares for ’10 month year’
