Euro

◆ Bankers unanimous on fair value ◆ Senior market 'wide open' following US election ◆ More 2025 pre-funding expected

Parched market anticipates concessions to climb should supply return

◆ Issuers add tier two debt amid lower relative cost to senior layer ◆ Danske Bank prints in euros at no premium as Nordea said to have garnered largest size locally ◆ BNPP, HSBC and Westpac target dollar market

◆ Bankers debate negative premium ◆ Spread could have been pushed further ◆ Fast money still interested in Greek names

La Française des Jeux and Roquette Freres among mandates on screens

◆ Netherlands-focused insurer prepares to print first RT1 in its current form ◆ Sentiment for subordinated debt recovers from pre-election volatility ◆ Banorte to issue AT1 in dollars, ANZ raises tier two debt in Singapore

Covered market looks to returning SSA issuance for clarity over swap spread moves

KfW first to return to the primary market with opportunistic sterling tap

Opportunistic borrowers lining up for what is likely the busiest week left this year

Conclusive US election result and rate product woes open pre-funding options to banks

No tightening in sight but stability hopes rise as market digests US and German political upheavals. Next EU deal to offer direction

Historic spread shift smacks valuations after German government falls apart. Market at 'most critical moment in 20 years'