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◆ Small premium left for investors ◆ Final yield close to 4% 'inflection point' ◆ Rabo adds to senior green rush
New issue premium was zero, agreed those on and off the deal
This week’s covered bond market was quiet compared to seniors and SSAs, bankers say
Data
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
Tweaks to trading book rules will be next stage of competition
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◆ Second 'chunky' US bank euro print in a week ◆ Deal lands close to fair value ◆ But longer, fixed rate tranche raises questions as it is spotted wider in grey market -
◆ First senior preferred in two years ◆ 3bp of concession ◆ Senior spreads 'really tight' versus covered bonds
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Absence of new bonds to help secondary spreads grind tighter
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The deal was in the primary market for longer than usual
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Owners of the bonds face a long route to a payout but have a precedent in sight
Polls and awards
Don't miss your chance to choose this year's Bond Award winners
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
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