ESM-EFSF
-
Nederlandse Waterschapsbank brought some supply to the sparse long end of the SRI market on Tuesday, printing a trade that alongside Rentenbank was part of a strong re-emergence of euro supply after the summer. -
The GC BondMarker voters have delivered their verdict on last week's benchmarks. Voters evaluated a dual tranche from the European Financial Stability Facility (EFSF) and dollar trades from the Province of Alberta, Sweden and Land NRW.
-
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
-
The European Central Bank’s Thursday meeting marked a return to traditionally dovish form, putting off any discussion of tapering or adjustment to monetary policy, writes Lewis McLellan.
-
-
Investors have rarely been so supportive of public sector borrowing this side of Bastille Day. Issuers are churning out well-received benchmarks, but with a European Central Bank meeting approaching, market participants face a shortened week.
-
The European Financial Stability Facility (EFSF) sold its fifth dual tranche of the year on Tuesday, gaining plaudits as it added €1.5bn to a line that bankers said came under secondary market pressure when launched in February.
-
The European Financial Stability Facility will on Tuesday fill a gap in the 10 year area of its curve and pour some liquidity into the ultra-long end, after hiring banks on Monday for a dual tranche deal. The supranational will also likely be hoping for a repeat of its last dual tranche trade, which took a hefty €6bn chunk out its €14.5bn funding target for the third quarter.
-
The votes have been counted and two of last week's deals go under the GC BondMarker microscope in this week's results: a three year floater from Bank Nederlandse Gemeenten (BNG) and a jumbo dual tranche from the European Financial Stability Facility (EFSF).
-
The European Financial Stability Facility is set to enjoy enviable conditions when it comes to the euro market next week — during which the Greek sovereign could also make an appearance. Demand at the long end has been particularly strong due to a yield spike last week, which KfW and SCNF Réseau have since taken advantage of.
-
If ever there was an example of how much timing matters in the bond market, it was the European Financial Stability Facility’s dual tranche trade this week.
-
