Currencies

◆ Market volatility no hindrance for foreign and domestic FIG issuers ◆ They take advantage of favourable conditions ◆ May volume to end more than 80% higher compared with a year ago

Neddies has funded €6bn so far this year and might reappear in dollar market

French agency hopes to be a regular in sterling market

◆ ECB rate cut seen as all but certain next week but rates outlook to drive sentiment in primary market ◆ Investors may turn more selective ◆ Profit taking tipped after spread tightening

◆ New Singaporean names come close to established peers ◆ Deal follows several months of marketing

◆ Improved arb lures bank to issue first sterling senior deal for two months ◆ It funds close to where it can issue in euros ◆ But while hopes of more issuance rise, prospects are uncertain amid return of rates vol

◆ Deal swells from initial size ◆ No premium needed to seal larger print

◆ Danske saves with three year floater ◆ No NIP needed for Danske’s seven year tranche ◆ DNB’s €1bn print only just covered

Deal turned out larger than some had expected

Investors have plenty of choice between short and long as well as green and conventional

CDPQ and EDC bring fresh new issues

◆ Senior preferred format helps mitigate execution risk ◆ Issuer shifts larger funding into shorter FRN ◆ Rates volatility back on the agenda