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Late Labor Day this year and mid-September FOMC will constrain September issuance window
◆ Greek bank's first issuance of the year ◆ Tenor and IPTs attracted domestic and international demand ◆ Deal praised for its strong execution
The Reserve Bank of India's subsidised window for raising foreign currency borrowing has accelerated the country's banks' dollar issuance blitz
Data
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
Covered market provides 'the deepest pocket of demand' among FIG asset classes
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
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The EU has helped drive SSA supply and deal size to vertiginous heights -
German firm paid concession in line with recent high quality tier two paper
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Cluster of smaller covered bonds with relatively generous spreads lacked the sparkle of earlier deals
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Fixed income strategists say French and German lenders could use the December window to maximise borrowings from the European Central Bank
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Achmea and Caffill will test demand for issuance following recent rates volatility
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Spreads are well supported, though value could be undermined if Bunds were to weaken versus swaps
Polls and awards
Cast your vote now to decide this year's covered bond award winners and express your views in our new market survey
Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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