Currencies
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Fair value continues its slip into meaninglessness as bankers say it is not anchored in reality
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Expectations for rates stability have encouraged international investors to return to Greek bank debt
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No book updates given once spread was set 2bp wide of initial level
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No concession needed as Baloise races away with Sfr225m of senior funding
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Converging funding costs to euros will revive dollars further
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The government will tap the new line via tenders after February next year to bring more liquidity
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The undrawn facility can be converted across euros and dollars to ensure flexibility
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Car maker opts for size over spread
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Short dated tenor gives French lender better arbitrage than a euro deal
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New issue premiums for euro deals have dropped on news that US inflation rates have improved
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Kommuninvest will follow them into dollar bond market on Wednesday
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Deal will cut Liberty Media-owned car racing group’s debt by $500m