Currencies
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Corporate bond market stands at its strongest point with more FIG deals expected, though higher new issue premiums eyed -
Spreads to drive demand as market breezes past widely expected 25bp cut
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Sure, covered bond new issue premiums are back while order books are smaller — but good times are still to come
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Market split over whether the issuer pushed pricing too far
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Lenders and investors say a new approach to what 'ESG friendly' means is needed
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US bank and several insurers dominate issuance
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Tight spread failed to put investors off European supra's dollar bond
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World Bank group issuer returns to dollars for a record $4bn
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◆ Rival bankers ‘surprised’ at starting level ◆ Speculation about ‘low-quality accounts’ in order book ◆ Timing ‘wasn’t the best’
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It ‘makes sense for investors to start adding’ IG corporates to portfolios, according to one portfolio manager
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Usual fourth syndication to follow after the summer
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◆ UK insurer chooses dollar market for double refi ◆ Will buy back RT1 and tier two but prioritise the former ◆ Recent issuance suggests price advantage in dollars over sterling
