Currencies
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Both issuers are issuing their longest tenors so far this year
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German agency plots post-summer Swiss franc investor roadshow
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Development bank returns to currency after two year hiatus as it nears 80% of funding target
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◆ Supply, not demand, to determine summer pipeline ◆ Barbell market with top and low quality issuers the most welcome ◆ Opportunistic funders the most likely summer candidates
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Heathrow and Aeroporti di Roma show sustainability-linked instruments are useful for particular sectors
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◆ Yankees dominate with over $8bn supply ◆ Foreign borrowers target window before NFP and US bank results ◆ Japanese financial institutions bolster TLAC needs
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Regional borrowers from Belgium, Germany and Spain power surge in labelled bond issuance among SSAs
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Issuer prices at 'tighter end of range' as it gets new funding task underway
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Arbitrage lures issuers amid volatile backdrop
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◆ Issuer achieves size and investor diversification ◆ Price and yield compressed since last year ◆ Worse market forces Greek bank debt wider
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◆ AT1 refi more than twice subscribed despite tough backdrop ◆ 25bp-37.5bp of premium needed
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Debut borrower finds ample demand as it spins off from Telekom Austria