Currencies
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Hamburger Hochbahn, a government owned public transport operator in Hamburg, is set to make its bond market debut this week, launching itself as a regular bond issuer. -
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A pair of triple-A rated European agencies sold their first Swiss franc bonds for several years this week, responding to reverse enquiry for long dated, high rated paper.
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Unlike its last syndication in January, when Spain lost over €75bn of orders after an aggressive move in pricing, the sovereign took a more cautious approach on its return to the public market this week to print its biggest ever 50 year bond.
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KfW became the latest in a series of top SSA names to launch an ESG transaction in Canadian dollars, tapping into a growing base of investors in the country.
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Italian prime minister-designate Mario Draghi must walk a knife-edge if he is to form a government and present a national recovery and resilience plan. If he takes too hard a line the mill of Italian politics will chew him up and spit him out. If he is too quick to compromise, the EU’s life as a giant bond issuer may be shorter than hoped.
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The Asian Development Bank has sold its first ever education bond. The proceeds will go towards financing technical and vocational training for educators in the Asia Pacific region.
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KommuneKredit dropped into the Swiss franc market on Tuesday to make its first appearance in the currency since June 2015.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 8. The source for secondary trading levels is ICE Data Services.
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After taking an aggressive approach for its last syndication in January which resulted in a shocking loss of over €75bn of orders, Spain returned to a more moderate and conventional pricing process as it came to the market for a new 50 year bond on Tuesday.
