Currencies

The case of O’Donnell versus the Australian Commonwealth, if successful, could force all issuers seeking to make use of the Australian bond market to make thorough disclosures of their climate strategy.

The Agence France Trésor (AFT) has suspended Morgan Stanley’s primary dealership in French government bonds, making it the first bank to suffer such a proscription.

The State of Brandenburg got over the line with a fully subscribed order book and a yield inside its curve on Tuesday, successfully avoiding the fate that its compatriot Berlin met at the tenor last week.

Italy will receive a €2bn loan from the European Investment Bank to help cover the reinforcement of its healthcare system required to deal with the coronavirus pandemic.

The State of Brandenburg will keep the primary euro public sector bond market ticking on Tuesday after mandating banks for a new 20 year bond for which it hopes to achieve a better outcome than Berlin's deal at the tenor last week.

Falls in the Turkish lira have reignited concerns about a currency crisis this week, with the Central Bank of the Republic of Turkey’s (CBRT) unorthodox exchange rate policy raising questions from investors about the robustness of the country’s respected banking sector. Mariam Meskin and Ross Lancaster report.

Despite the coronavirus crisis and uncertainty about the November US election, the Swiss franc market is feeling optimistic for the second half of the year, expecting a strong run of issuance until late autumn.

KfW tapped an October 2034 line on Tuesday, enjoying impressive demand for the €1bn trade after the strong performance of the Bund curve sent investors hunting for yield.

The European Financial Stability Facility finished its €5bn Q3 funding programme on Wednesday with a €1bn tap of an October 2026 line in an auction. The European Investment Bank was also in the market on Thursday adding to a Climate Awareness Bond.

Australia announced a bumper funding programme for 2020-21 on Thursday, almost double its previous effort. Two days earlier, the sovereign surprised the market with a long end deal that attracted a substantial amount of offshore interest.

The International Finance Corporation sold the first SSA Kangaroo deal in over three weeks on Thursday, returning to the market with a A$100m ($71.9m) 11 year bond.

Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.