Currencies

‘Very impressive’ market growth heralds more SSA and credit issuance

Proposals a welcome surprise that could lead to new names and tighter spreads

Earnings blackouts hit dollar market

Largest ever US bank capital deal sold this week as another big perp also appears amid hunt for yield

No sign of an issuance drought in hot market

German lender finds demand after record-breaking Pfandbriefzentrale deal

◆ Deal eight times subscribed ◆ Spread cut to mid swaps plus 120bp ◆ Investors flush with cash amid scant supply

German company has been actively acquiring and divesting real estate since late 2024

◆ €500m bond six times subscribed ◆ Only 1bp off NRW's recent five year ◆ Tenor, yield, timing all attractive

◆ Citi and Wells Fargo opt to issue in euros before dollars ◆ Citi's offer described as first post-GFC euro tier two from a US bank ◆ Both banks achieve competitive funding in 'green flashing' euro market

◆ Greek bank's first bond of the year vastly improves on last year's financing ◆ Scarcity appeal, buyback, and higher UniCredit ownership help crunch spread ◆ Old bond to be bought back above par

◆ 'Record-breaking' results on 'many metrics' ◆ Slim premium paid ◆ Broad engagement as investors hunt paper