Euro
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Total for first half is more than all of 2023 inflows -
◆ New issue premiums return to euro covered issuance ◆ Issuers unable to tighten despite wider starting spreads ◆ French covered spreads could tighten
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Flurry of deals in euros with more to come as Monday supply already beats last week’s total volume
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◆ Deal draws accolades ◆ Result suggests others may issue before Thursday's central bank meetings ◆ Proceeds for EV financing
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Government bond spreads could continue to tighten versus core and semi-core peers
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◆ Transaction 'looks attractive' say analysts ◆ Issuer 'bondholder-friendly' ◆ US market 'remains open'
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◆ German banks raced out of the blocks this year ◆ Slower loan book growth to damp supply ◆ Pfandbrief spreads unlikely to tighten
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Which assets will dominate when issuance returns depends on whether borrowers choose to tackle their more difficult trades first
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Sector has 30% of its annual needs left to fund and the signs are positive for the race to year-end
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Pfandbrief lender plans only two weeks of marketing, down from the eight needed by KfW
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Sterling deal on the table for rest of the year, with similar target and strategy for 2025
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Sell-off in US tech stocks hits markets far and wide
