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Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
Bankers predict steady flow of covered bonds issuance over coming weeks despite recent spike in activity
The conditions are in place for the return of big-ticket M&A to create a European banking champion that is sorely needed — provided the politics of it don’t get in the way
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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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Large US banks want the Federal Reserve to extend a measure allowing them to exclude Treasury bond exposures from their leverage ratio calculations. But other industry figures are pushing back. Senators have warned against the risks of letting temporary Covid support become more permanent. -
China Everbright Bank switched things up for its $550m deal this week, by opting for a fixed rate note rather than the floating rate bonds it has favoured more recently.
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The UK’s monetary policy will officially be designed to fight climate change from now on, after chancellor of the exchequer Rishi Sunak changed the Bank of England’s mandate this week, delighting sustainable finance campaigners.
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If the UK government is serious about reversing the trend in declining homeownership it needs to do more than the half-hearted guarantee on a narrow subset of loans announced in this week’s Budget.
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Bank of Ireland’s inaugural green bond attracted the largest financial senior book in euros this week, peaking at €2.5bn, as it offered investors a chance to pick up labelled paper at a shorter tenor and with plenty of spread.
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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