Euro
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Asset managers are ruling the roost -
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Market paying close attention to EU issuance plan
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Key central bank policy meetings have cleared the air, but confidence is lacking
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German federal state attracts nearly €3bn of demand for inaugural social bond
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Corporate debt catching retail buyers’ eyes again after yields rise
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◆ Investors attracted to higher spread sales ◆ Pair need 15bp concession to cross the line
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◆ New funding combined with early refinancing ◆ Similar concession to compatriot's AT1 ◆ 'Euphoric' market welcomes subordinated debt
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A compelling spread, limited deal size and quiet market provided the ingredients for success
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Merlin Entertainment, Hotelbeds and CCP Lux join amend-and-extend parade
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Two German issuers each took planned €500m from oversubscribed books on the same day as the sovereign
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◆ Demand skewed towards higher spread products ◆ Niche names to follow ◆ ABN also takes size in Swissies
