EIB

Market participants have grown used to US president Donald Trump’s ability to shift markets and induce volatility with only 140 characters, but Tuesday’s address to Congress appears to have been digested without spoiling the mood in SSAs.

The European Investment Bank is set to tackle the seven year part of the euro curve on Wednesday, an area that has had no issuance from SSAs since early February.

The scores have been collated. See how market participants rated Belgium’s €6bnn dual tranche, EFSF’s €1.5bn 26 year, Finland’s €4.5bn note and the two dollar deals from BNG and EIB.

Rating: Aaa/AAA/AAA

The prospect of a far-right leader becoming president of France rocked government bond markets this week. It led to a rare pulled French agency deal and will cause the country’s banks problems with their own huge funding needs. But as other issuers in eurozone countries facing elections showed, the picture of the risks ahead is complicated. Craig McGlashan reports.

Political volatility in France has buffeted the euro market this week, leaving some public sector issuers floundering as government yield curves spiked. Other issuers have had no such troubles though, thriving amid the turmoil.

Two public sector borrowers had very contrasting fortunes with no-grow three year dollar bond issues on a volatile Tuesday.

The public sector dollar market looks set to pick up the pace of a record breaking January after last week’s slowdown in issuance, with two borrowers on screen for Tuesday business at press time on Monday and more issuance expected later in the week.

SSA bankers are gearing themselves up for another round of dollar supply next week after the currency’s record breaking January. Buoyant conditions even allowed one issuer to bring a bulky benchmark, despite this week’s public holidays in Asia.

This week's funding scorecard looks at the funding progress supranationals have made in their funding progress by the end of January.

The European Investment Bank (EIB) asked the EU Commission to keep its exemption from EU banking regulation, in a letter sent on January 12.

Werner Hoyer, president of the European Investment Bank, expressed on Tuesday his hopes that the bank could keep a strong relationship with the UK after it withdraws from the EU.