Euro

◆ BPER Banca prepares debut green senior bond amid sparse pipeline ◆ CRE worries hang over market but spreads widening reverses ◆ Key data and holidays could limit FIG primary activity

Even the highest rated corporate borrowers are able to bring spreads in by leaps during bookbuilding in scorching market

Commercial real estate worries creep back into investors’ minds but rate cut hopes and need to place cash prevail

Front-loading pushes up volumes but no respite for SSA issuers as volatility flashpoints loom in huge funding year

Some investors and issuers complaining about pricing starting so wide… but it’s working

Bankers away say 12 year “good value” while dual structure a “defensive approach”

Swedish issuer bags largest ever print in single currency with first syndication of 2024

◆ Deterioration in market sentiment but Handelsbanken prices close to fair value, and even inside by some estimates ◆ CRE exposures under microscope ◆ Strong earnings, comfortable capitalisation assure investors

US companies slash spreads as good mood in euros persists

International accounts swell orders up to €2.5bn as spread lands below 70bp

Primary activity is set to ease into next week as Lunar New Year holidays take place

Push for long end debt appears to be dwindling