Euro
-
‘Resilient’ public sector stands ready to get back in action with dollar and euro deals -
US stocks have been the big loser, while European banks could reap profits
-
Agency has funded around 50% of its €65bn-€70bn programme
-
Trading activity and primary performance show covered bond robustness
-
Issuer takes big size ahead of blackout, offering ‘right’ products to investors
-
Some borrowers eye depth of US dollar market, while others anticipate 'orderly impact' on euro spreads
-
All bonds printed this week, except Fresenius’ blowout short maturity deal, trade below water
-
◆ Finnish deal delivers size ◆ Trade already spotted tighter in secondary ◆ Finnish supply lagging 2024 year to date
-
◆ Shorter deal proves more popular ◆ Both tranches price near the same Bund spread ◆ Small pick up to Länder offered
-
◆ Tight deal needed no premium ◆ New investors buy the name ◆ Some short-dated covered bonds now trading through Länder
-
◆ Shorter tranche favoured but both tighten by large amounts ◆ Market seems ripe for other issuers ◆ Eyes now turned to US tariffs announcement
-
Clear success of Tuesday's euro corporate bond issues should give others confidence
