Euro

Spread widening brings unexpected shift in orderbook composition in euros but other currencies tougher

German utility soothes flighty bond investors by mixing up usual market approach

Supranational remains ahead of the curve in completing its 2024-2025 funding task

◆ Tight govvie spread no problem for spread hunters ◆ No premium needed ◆ Some buyers resisted pricing through 70bp

Development bank aims to continue early success in the dollar market next week

Warm reception for French banks in euros and other currencies shows FIG market is in positive health

Elite group of companies now considered safer than France in the primary market

Last January's book and deal size records tumble to encourage bankers with 'trillions' of issuance still to be digested

◆ Landesbank delays covered funding as it prints second senior preferred three months after debut ◆ Varying views on concession, minimum 5bp paid ◆ Strong backing by German bank investors

◆ Italian bank overcomes slower day in primary with first FIG dual tranche deal of year ◆ Why issuer chose twin tranches ◆ Concession discussed

◆ French bank prints third syndicated deal in just two days ◆ Frequency of visits means issuer has to pay up ◆ Euro tier two ‘better received’ than sterling tier two

Big books and negative concessions aplenty as pipeline looks thin