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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The dollar market sprung back to life as US banks dominated supply this week, with Goldman Sachs and Citigroup taking home more than $11bn through self-led trades. -
Bankers expect financial institutions will be set on returning to the capital markets after a particularly dry week for issuance this week, but syndicate officials may need to bump up the premiums they are offering if they want to attract healthy demand for new deals.
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Europe moved one step closer to having uniform rules permitting the issuance of non-preferred senior bonds this week, after the European Commission, Council and Parliament reached an agreement on creditor hierarchies.
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Although covered bond spreads are close to their historic tightest levels, investors remained keen buyers this week in both in the primary and secondary markets. ABS issuers are filling up the calendar for the rest of the year, while the FIG market more generally is looking ahead to tomorrow’s European Central Bank (ECB) meeting.
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Banca Monte dei Paschi di Siena (MPS) resumed trading on the Borsa Italiana this week, with its shares opening more than 35% below the level at which the Italian state recapitalised the bank.
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Bank of China’s aircraft leasing arm, BOC Aviation, priced a $200m tap of its outstanding 10 year bonds on Tuesday through where bonds were quoted in secondary markets.
