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Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
Diverse US senior FIG issuance jostles with perpetual and tier two capital from foreign and domestic banks
◆ Infrequent issuers achieve tight pricing... ◆ ...but lose a third of orders ◆ Investors may demand more NIP on deals from next week
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Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
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A further four banks will follow on Wednesday, including one with a 10 year deal -
There should be a busy start to the new year, but falling rates and widening spreads might spoil the party
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The ebullient market conditions as 2023 ends are unlikely to last. Issuers must be ready for liquidity to ebb abruptly
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LBBW and Commerzbank reserve their slots early for first trading day of 2024 with December mandate announcements
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Canadian banks are expected to be one of the largest issuer groups in the asset class as they diversify across currencies
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Banks deemed 'solid' but risks in credit quality and growing non-preforming loans pose problems ahead in weak economy
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
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