Europe
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Bank Nederlandse Gemeenten (BNG) is keeping a close tab on the Kangaroo bond market, following the sale of a curve-extending euro bond this week that is likely to complete the issuer’s benchmark funding for 2018. -
Investors were in defensive mode in the dollar market this week as they snapped up short dated trades and floating rate notes, with demand particularly heavy from central banks and official institutions. Bankers are hopeful that benchmark supply will return next week.
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The Autonomous Community of Andalusia this week became the first Spanish region to return to the capital markets while still under the central government’s Regional Liquidity Fund.
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The Turkish sovereign returned to international markets this week riding a wave of relief and renewed goodwill, following the release of US pastor Andrew Brunson, write Francesca Young and Lewis McLellan.
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The Basel Committee for Banking Supervision (BCBS) on Thursday launched a consultation to address a quirk of Basel capital rules reviled by many derivatives clearers.
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Conor Hennebry has quit Deutsche Bank to head Santander’s European debt capital markets business.
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A proposed change to the Pfandbrief Act will allow German covered bond issuers to keep UK assets in their cover pools, without falling foul of Pfandbrief eligibility criteria.
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Public sector borrowers could bring dollar benchmarks next week ahead of the limited funding windows of November. Floating rate issuance was the main play in the sector this week, with Municipality Finance falling just short of full subscription as it brought the latest in the format on Thursday.
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