Currencies

◆ Rival bankers praise deal ◆ Caution as leads ‘don’t have buyers at any price’ ◆ Secondary market performance seen as key to investor appetite

◆ Diverse set of issuers to fund before the ECB on Thursday ◆ Jefferies prepares rare euro deal ◆ Despite rates volatility, the market is open

‘A lot more’ covered bond supply expected ahead of ECB meeting on Thursday

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

◆ 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

Auto company one of raft of IG corporate mandates in ECB meeting week

Bondholders and lenders given formal notice of default

Promise of arbitrage draws foreign borrowers to Swiss franc market

Investors are hungry for floating rate notes

Investors have swarmed to FIG FRNs despite looming interest rate cuts

Rates backdrop causing greater order book attrition in dollars as spreads grind tighter in euros