Euro

Where do investors look when JGBs and USTs are no longer reliable?

French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital

February could bring the next US supply wave, with tech names leading the charge

◆ Higher rated Austrian lender offers more spread for similar senior preferred bond ◆ Big demand pushes deal inside fair value ◆ BCP still prints its tightest unsecured debt for more than five years

◆ US tech giant prints largest euro IG corporate trade of year yet ◆ 12 year's spread tightens hardest ◆ Issuer also priced a $3bn deal

◆ Issuer moves swiftly to fund hours after posting quarterly earnings ◆ Deal sets tightest multi-year spread record ◆ Tight deal attracts 'broad-based demand' ahead of likely peer issuance

Wider currency mix helped meet demand for high grade paper with attractive yields from the region

◆ First deal from regions and agencies in Spain this year ◆ Bond lands just 4bp over Bonos ◆ How far can Spanish SSAs go from here?

◆ First public bond from French insurance and savings manager ◆ Wider spread than major issuers' tier two levels secures big move from IPTs ◆ Demand close to €6bn

◆ Spanish entity hits market with tight, opportunistic trade ◆ Some attrition as deal priced through inflection point ◆ Trade lands through fair value

◆ Second euro social bond this year ◆ Book continued to grow between guidance and allocation ◆ Spread tightens 33bp to land near fair value

First Canadian province to visit euros in 2026