Euro

Market recovers from shaky start as smart pricing draws huge order books

◆ Portuguese lender lands deeply subordinated capital deal far tighter than when it first intended to call old note in November ◆ 'Super strong' market for FIG capital serves a tailwind ◆ 50bp tightening from IPTs

Société Générale becomes fourth issuer to launch senior FRN in euros this year

Debut in sterling wins whopping £3.25bn final book

The sovereign attracted a large book after record-breaking deals from peers

QE era swap valuations driving bank treasuries into bonds

Supra takes intraday slot ahead of busy week for euro SSAs

Belgian national champion clears deal at 10bp NIP as investors show ample demand for FIG capital

IG corporate market sees tightening of 45bp during bookbuilding

Demand for its new 10 year trade finished above €137bn

Italy takes €15bn from dual tranche sale as bankers advise borrowers to keep going

◆ French insurer raises €1.5bn from debut RT1 ◆ Deal reaches peak demand of €8bn even when pricing was through perceived FV ◆ Rare asset makes finding accurate FV very difficult as other deals have low coupons