Euro

Finland and Madrid hit screens on Monday to capitalise on the red hot appetite for euro sovereign supply in the 10 year part of the curve.

When the Western world returned to its desk after being glad to be rid of 2018, corporate bond issuers approached the market cautiously and bankers ensured that deals were sensitively executed. Those approaches brought successful deals and the market has not looked back since. As the Chinese calendar gets set to turn to the year 4717, the market is hoping that this run can be extended.

France will increase the size of its June 2039 Green OAT next Thursday through auction, according to the Agence France Trésor.

Guarantor: Federal Republic of Germany

Rating: Aa1/AA+/AA+

Rating: B3/B+/BB-

Guarantor: CPP Investment Board

Guarantor: Federal State of North Rhine-Westphalia

Rating: Aa3/AA/AA-

Guarantor: EPIC BPI-France

Rating: Aaa/AAA

Euro agencies favoured fives over the last seven days, as KfW smashed its order record and a pair of French agencies brought taps at sizes multiple times their target. With some SSA bankers saying conditions are the best they have ever seen, supply looks likely to keep coming.