Currencies

◆ Strong market sentiment backs new deal and potential FIG issuance as spreads tighten ◆ Views on NIP differ but SG's outcome was unanimously 'very good' ◆ Austrian and Australian issuers on the way

High beta and long duration back in demand after US inflation falls

Maturity back in demand as inflation appears to be under control

◆ Issuer takes advantage of red-hot sentiment post-CPI ◆ Higher yielding bank capital prices moved up, including a similar AT1 from Barclays ◆ Strong demand suggests tight pricing eyed

Dealers away say rich pricing versus Pfandbrief led to disappointing orders

◆ Deal comes amid pronounced bid for yield ◆ Pricing new deal inside 12% seen as 'good result' ◆ Issuer combines tender of old bond five months ahead of early redemption

Spanish borrower braves market on major data day for investor sentiment

◆ Portuguese lender has authorisation to redeem its only AT1 early ◆ Atypical action suggests no replacement deal ◆ Last week's red-hot AT1 reception suggests strong demand reserved for biggest banks

Demand exceeded €110bn when final terms were set for the dual-trancher

Swiss pharma company navigates a difficult market to pay a negative to zero new issue premium

Big books for Veolia hybrid and Arkema raise hopes of decent volume

Bankers away from the deal put the NIP at 1bp to 2bp