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◆ Strong outcome despite French risk concerns ◆ Participation from a 'who's who' of sterling real money ◆ Sterling market stronger than euros
◆ CFF tightened spread by 6bp ◆ CFF and Hypo Vorarlberg Bank paid small concessions ◆ NN Bank attracted largest order book of the day
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
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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Rabobank ended a two year absence from the Kiwi dollar market this week to raise short dated liquidity. Meanwhile, in the Australian market, credit issuance is picking up ahead of the end of the local financial year. -
Denmark’s Systemic Risk Council is calling on the government to reactivate countercyclical capital buffer (CCyB) requirements for banks, as the country's economic recovery gathers pace and risks begin to build up in the residential mortgage market.
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Agence France Trésor (AFT), the French sovereign debt office, has hired Antoine Mannevy as a debt market operations dealer.
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RHB Bank enticed investors with a rare bond from Malaysia’s banking sector, drawing in more than twice the demand for a $500m deal.
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BoCom International Holdings Co leaned on a hefty syndicate team to lock up a $500m five year bond on Tuesday.
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Since Friday last week the European Central Bank has stepped up asset purchases under its Pandemic Emergency Purchase Programme, giving secondary markets in rates products renewed vigour, said traders on Tuesday.
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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