Euro
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Short-dated, highly rated SSAs could trade tighter amid hopes of the US government shutdown ending
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Spread moves not done yet, warn analysts
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◆ Dealers slow to adjust Länder secondary pricing ◆ 'A lot of discussion' on order updates ◆ Covereds trade tight to Länder
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Market participants spot first signs that ever improving funding conditions may be over
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Verizon and NextEra's jumbo hybrids could entice more US issuers to follow
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Rise of jumbo Reverse Yankee issuance could crowd out European names
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◆ Issuer captures strong opening to launch capital pre-funding ◆ Achieves tightest spread from Spanish bank in longest tenor ◆ But as market weakened the deal lost some steam
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After stalling earlier this year, infrastructure deals have picked up as data and digital dominate
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◆ Belfius pre-funding for 2026 ◆ RBI deal more than seven times subscribed ◆ Softness earlier in the week 'just a blip'
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◆ Hungarian bank's €100m deal takes €1.15bn of orders ◆ Issuer had Wednesday's FIG market to itself ◆ CEE names offering 'nice pickup'
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Banks tap Asia for diversification, while SSAs stay busy in euros and dollars
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Caution pays off as issuer completes funding for 2025 and prepares for next year