Euro

◆ US election jitters prompt early final trade ◆ Issuer pays 'appropriate' NIP ◆ Possible pre-funding for 2025 via private placements

◆ Eurobank’s senior green debut becomes largest Greek bank bond in recent memory ◆ After peer Piraeus issued biggest capital deal at lowest yield ◆ Deals priced versus swaps on the back of improved investor perception

Uncertainty about the size of the impending rate cut made defensive maturities the 'right choice'

◆ Deal to be the bank's largest in euros so far ◆ Low to mid 30s price 'reasonable' ◆ Issuer met with over 50 investors

◆ UniCredit-Commerzbank news unlikely to have an impact ◆ Fair value thoughts revealed ◆ Deal to be priced on Wednesday

◆ Dual-tranche approach ◆ Demand skewed towards longest piece ◆ Pricing ‘impressive’

◆ Greek bank meets investors ahead of senior preferred trade ◆ Comes amid positive macro backdrop ◆ Arion prepares dollar AT1 refi

Daimler Truck, APRR and Iren print as demand remains high despite volume

◆ Deal comes close to non-eurozone peers ◆ Real money orders dominate book ◆ No oversupply concerns for fourth tranche of 2024

◆ Investor meetings began on Monday ◆ Deal grew amid interest from domestic and foreign accounts ◆ Set to price below 100bp

◆ Issuer returns after seven months, leaves door open for another trade ◆ Tenor, pricing strategy carefully thought out ◆ French agencies test new tights to OATs

In a strange dynamic, hybrid investors are now just as much at the mercy of rating agencies as issuers