Euro
-
US based bond investors said that Argentina’s first euro-denominated bond issue for 15 years came too tight for them, as bankers said this was likely to be exactly what the sovereign had been looking for. However, the level also looked tight for yield-hungry European accounts, with the bonds trading down around a point on Thursday.
-
It was all going so well for Italy. Its entry to the 50 year bond club on Tuesday pulled in a monstrous €18.5bn of orders. But almost immediately the bond became tradeable, the market frothed with talk of the European Central Bank tapering QE, sending Eurozone periphery bonds into a tailspin to remind everyone just how much markets are in the grip of central bank policy. Lewis McLellan reports. -
Auckland Council has selected a pair of banks to arrange a roadshow for a bond denominated in either euros or sterling.
-
-
French agency Société de Financement Local will launch on Tuesday its first ever syndication.
-
The UK government has lent its voice to the growing current of international opinion that expansive monetary policy has gone far enough, and may even be harming growth. Britain is set to embark on a fiscal stimulus, likely to be welcomed by financial markets.
-
Kemi Adeosun, the finance minister of Nigeria, has attacked the “hypocrisy” of Western governments in stopping developing countries accessing development bank finance for coal power.
-
Argentina took a further step in its reintegration to global markets on Wednesday, selling €2.5bn of euro-denominated bonds for the first time in 15 years.
-
Just a week after its first dollar denominated benchmark, SNCF Réseau has announced that it will issue its first green bond.
-
Argentina presented investors with a pricing conundrum on Wednesday when the sovereign came to market with its first euro-denominated deal since its 2001 default.
-
It was shaping up to be a healthy week for euro issuance in the SSA market until a rumour about the European Central Bank planning to “taper off” its asset purchase programme ruined the vibe.
-
This has been a week of wariness for euro investment grade corporate bonds. A German public holiday on Monday kept a lid on deals, but there were at least two go/no-go calls on Tuesday that yielded no deals, despite an improving tone in corporate spreads and stock markets.
