Euro

◆ Follows RT1 from Crédit Agricole ◆ Still ample demand for insurance capital, rival banker says ◆ Cardif's third capital trade since November

◆ Wide range of investors buy highly rated bonds ◆ DNB achieves one of the tightest spreads since Covid-era QE days of 2021 ◆ SpareBank 1 SMN extends euro senior curve by two years

◆ Euros over dollars for Sweden's only international deal of 2026 ◆ Pricing inside KfW, good pick-up over ESTR ◆ Greece brings €3bn 10 year tap

◆ No bitter unrated taste as book grows throughout pricing ◆ Investors keen for household unrated names ◆ Price discovery needed

◆ Stellantis sees stronger demand for shorter leg of €1.25bn dual trancher ◆ RCI Banque prices €750m 5.2 year tightly ◆ Ford finds demand in short end sterling

◆ Big move for AkzoNobel, three months after last trade struggled ◆ Orders peak near nine times the deal size ◆ Deal comes through fair value

Issuer has now completed dollar funding for the year, three euro deals planned for post-summer

◆ RBC's second euro dual trancher of the year ◆ Takes large size in very busy market ◆ 'Nice' to price 4NC3 10bp inside Morgan Stanley, lead says

The World Cup is being played outside European trading hours, but don't underestimate its potential for disruption

◆ Deal is joint tightest in the asset class since October 2021 ◆ Finishes with larger book than Nordea's November 2025 outing ◆ 'Flight to quality', outright rates and search for sub paper power strong outcome

◆ Supra prices inside peers’ seven year deals ◆ Slim NIP paid after 3bp tightening ◆ ‘Very strong day’ for SSA market

◆ First RT1 since January ◆ Huge order book with no attrition ◆ High-beta appetite increases further down the capital structure, lead says