Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
US bank eyes one of the tightest US preferred resets as BBVA goes for subordinated, senior combo
◆ 'Real money' order book supports €1bn size ◆ 'Not much' delta between Nordic names, lead says ◆ Up to 5bp of concession
◆ Small premium left for investors ◆ Final yield close to 4% 'inflection point' ◆ Rabo adds to senior green rush
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Investors are receiving a decent concession to buy new paper in the FIG market, and this has encouraged them to jump out of outstanding bonds, thus widening the curve further for new issuers. And covered bonds buyers are also gaining the upper hand, as the European Central bank pulls out. -
Santander UK Group raised €750m of floating rate notes (FRNs) in the euro market on Tuesday, as credit spreads struggled to perform on the back a recent surge of bank bond supply.
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Analysts expect the iTraxx Europe indices will widen when IHS Markit issues series 29 this week, as the indices will for the first time reference French non-preferred senior bonds in place of ordinary senior unsecured obligations.
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HDFC Bank sold its debut offshore rupee bond on Thursday, opening an untapped market for Indian banks.
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Financial institutions stretched the appetite of bond investors to breaking point this week, flooding the euro market with nearly €15bn of deals, which struggled to perform in secondary despite carrying large new issue concessions.
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Standard Chartered and Commonwealth Bank of Australia navigated tough conditions this week to print deals that boosted Yankee supply to its second best start to the year on record.
