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Demand buoyed by money market fund inflows as investors 'park cash'
Almost Sfr3bn printed in first week of May as Swiss franc mart shakes off tariff spectre
◆ Handful of European banks go Stateside after quarterly earnings ◆ Some revisit dollar funding despite it not offering best relative cost ◆ HSBC goes for size as its triple trancher surpasses BofA's $5bn print
The potential for further Trump-induced volatility leaves issuers saving covered bonds for even rainier days
Favourable factors support long dated issuance in both senior and covered bonds despite the divergent fates of issuers in the two markets
Duration on the cards for senior funders, with covered bonds set to skew short
Bright spots in financial and corporate bond markets despite expected economic hit from escalating trade war
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Supply expected to skew shorter after recent borrowers opted for the long end -
When it seems as if it is only short-term survival that matters, the best bankers don’t lose sight of the distant horizon
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◆ Did we come close to a full blown crisis before Trump's tariff climbdown? ◆ Will we face another in 90 days' time? ◆ UK regulator's astonishing covered bond ruling
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◆ Book holds firm throughout pricing ◆ Recent comps lead to different fair value assessments ◆ 3% coupon appeals to high quality investors
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Syndicators do not expect an easy ride but are hopeful inflows remain supportive
Polls and awards
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be announced at a ceremony in London on June 18
The vote to choose the leading firms and individuals in the international debt capital markets has begun
The covered bond market gathered in Porto to celebrate its standout deals, institutions and individuals
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