Euro
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Spanish and French agencies also took advantage of a narrow pricing window -
Money moving out of longer maturities means issuers likely to prefer ultra-defensive deals
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Market sentiment deteriorates but positive mood after the FOMC may unleash unsecured issuance on Thursday
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High ratings and market-friendly maturities give bond issuers smooth ride
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Investors demand high concession for low rated, cyclical, energy-hungry industry
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Strong demand for euros in primary SSA market extends
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Larger banks’ senior bonds are in demand though smaller FIG issuers fill pipeline
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Lower reset spreads on outstanding debt weigh on Danish firm’s curve
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Maltese lender launches new EMTN programme for MREL and capital funding
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Smaller and weaker European financial institutions must raise funding this year but will have to navigate a backlog of competing issuance
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Even the bankers selling debt are struggling to work out why investors are buying it
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Reverse Yankee issuer finds warm reception for €3.5bn four part deal
