Currencies

◆ ECB repayments to influence banks’ covered and SP issuance ◆ But TLTRO repayments less important than this year ◆ Large pre-funding could mean lighter January supply

Bank analysts agree that Bund ASWs will tighten in 2024

Regular Swiss issuer reopens two covered bonds in last sale of 2023

IG corporate investors mostly dread central bank missteps, according to BofA survey

◆ End of year slow down exacerbated by caution ahead of major central bank decisions ◆ Sentiment stays strong albeit some dents after strong US economic data forces changes in rate cut expectations ◆ European banks send RFPs for January issuance

Only premier corporates expected to print in remaining days

IG companies’ premiums have halved, according to the Primary Market Monitor

Regular issuer targets lower size and lands inside last trade from Pfandbriefbank

Only blue chips looking to get ahead on next year’s programmes expected before Christmas

German development bank looks to fund €90bn-€95bn, the higher end of what was expected

Water utilities drowning in debt? Tell that to investors who bid £1.5bn for this week's deal

Concessions vanish and investors left wanting as demand outweighs supply