Euro
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◆ Order book size raises questions over buyers' pause ◆ RBI and NBG ‘two to watch’ ◆ Austria's RBI missed previous calls on outstanding AT1 -
◆ FIG trio raises €1.4bn amid softer backdrop ◆ Market still looks better than a fortnight ago despite drop-off ◆ Icelandic banks reprice their 'anomalous' secondaries
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Illiquid secondaries for older deals led the syndicate to look at recent Dutch supply instead
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In the land of the too-busy, the non-deal roadshow is king
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The long-end deal is judged to have paid 1bp-3bp new issue premium
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◆ Morgan Stanley and JP Morgan flood market with new senior euro paper ◆ MS goes big across the curve ◆ JPM concentrates on ‘strategic’ long end
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◆ HSBC adds €1bn tier two capital to recent Apac issuance streak ◆ Sabadell offers higher yield to but achieves tight spread ◆ SG goes Yankee for AT1
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Sovereign envisages further ESG issuance
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Issuers expected to favour tight unsecured deals over covered bonds this week
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Issuer last brought a green bond in 2022 but has been active via taps
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Biggest single day for €1bn tranches this month
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◆ BBVA feeds undersupplied senior sector ◆ Unicaja Banco tier two nets negative NIP ◆ Mixed views on near-term supply
