European Union
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Issuance recovers from last week’s wobble but concerns linger after issuers like KfW widen -
◆ French political turmoil? No bother ◆ Another €11bn raised from single exercise ◆ Textbook deal, usual 2bp premium paid
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New long bond to be an ‘eye-catcher’ for absolute yield buyers
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French government vote and EU syndication to shape market in coming days
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Primary market unruffled, but EFSF and EU to test sentiment next week
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Curve underperformed but ‘there is demand at these wider levels’
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Activity brewing suggests loan deal making will pick up later this year
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Hundreds of billions of euros of joint debt needs to be agreed upon before 2028, but many questions unanswered
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Yorkshire Water casts lonely figure in rapidly thinning issuance market
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◆ Investors flock to first EU deal in second half ◆ €147bn book, 'another smooth ride' ◆ 1bp-1.5bp premium paid
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KfW to go head-to-head with EU again while IADB prepares 10 year dollar
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EU’s second half funding announcement imminent, downside risk highlighted
