Currencies

Size smaller than expected as bond yields surge

Investors expect to turn screws on anyone left to issue as sovereign yields rise

German issuer returns to dollar long end after a three year hiatus

Almost a year after becoming the first Canadian bank to issue tier two in yen, BNS is back for more

Dutch agency will fund the remaining €1bn of its target mainly through smaller trades

Deal just subscribed as issuer trades on scarcity to prioritise size but some think it could impact pipeline

Hiring spree of Credit Suisse alumni continues

Shunned sectors becoming more palatable, but some buyers still give cyclicals a wide berth

US banks may find a willing audience in euros but that will add to complications for European issuers as they look to start early on 2024 funding

French bank back for the third time in two weeks with a three tranche Kangaroo

◆ Bank pushes forward to raise capital outside of home market ◆ $750m deal rumoured close to 15 times covered at peak book ◆ Deal benefits from government support making it different to other AT1s

◆ Investors primed to book US financials amid supply scarcity ◆ US banks lift $22.7bn in three days ◆ US Bancorp joins on Thursday, MUFG adds ultra-popular Yankee AT1