Euro

In contrast to Europe, heavy retail presence prompts Australian regulator to rejig local banks' capital stacks

Bloc set to lean on auctions to help achieve next year's borrowing task

Higher issuance and redemption volumes expected to put pressure on covered bonds next year

ArcelorMittal’s €1bn trade latest in line of cyclical companies garnering huge demand

Subordinated debt needed to support growth of public sector lender

◆ Late emergence of a new FIG issue surprises some ◆ RT1 comparables debated ◆ French sovereign exposure 'more limited' than peers

The decompression trade between high grade and high yield credit is far from guaranteed to pay off

Three benchmark deals planned for 'easier' dollar market

Private credit is one of the fastest growing segments of the financial system, according to McKinsey

Relentless appetite for financial institution paper led to a collapse in new issue premiums at the start of 2024. In the second half of the year, however, some investors pivoted away from senior paper and into subordinated debt as the hunt for yield intensified, writes Sarah Ainsworth

Banks enjoyed a strong start to their 2024 euro funding, securing much needed duration without having to pay eye-watering premiums. But conditions worsened and issuers slunk back down the curve as elections dictated market sentiment, writes Frank Jackman

SSA bond spreads widened dramatically against swaps in the latter part of 2024 and market participants are fearful that this will exert pressure on covered bond issuers next year. But on a positive note, several first-time issuers are anticipated to light up the market, writes Frank Jackman