Deutsche Bank
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Senior funding there for the taking, covered bonds yet to take off — but conditions are great for all
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Michael Diederich had long banking career before joining football club two years ago
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◆ Popularity allows Deutsche to price at tight valuation ◆ Follows the German bank's $2bn Yankee at the belly of the curve... ◆ ...and comes a day after UBS issued €2bn in mid to long dated maturities
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Concentrated pre-Fed funding drives July FIG issuance in the US to over $50bn
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Reorganisation changes reporting lines
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DCM changes follow Harding-Jones taking over IB business
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Co-CEO leaving is first high profile departure since takeover
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◆ Record book for an EIB EARN ◆ Demand supports ‘comfortable’ 3bp tightening ◆ Positive backdrop as SSA spreads perform in secondary
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◆ Issuer raises €1.5bn supported by nearly €10bn of orders ◆ Though some see higher NIP than usual paid for that tenor ◆ Deka leaves slim premium as other, less frequent borrowers prepare senior opco deals
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◆ Hesse prints largest European regional green bond ◆ ESM builds 'massive' book ◆ CDP tightens pricing by 6bp
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◆ IDA fair value more art than science ◆ MuniFin gets over 140 accounts in its book ◆ Madrid makes debut EuGB trade