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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
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 shadow of a no deal Brexit is hanging over this week's Bank of England meeting, with the next few days of talks between the EU and UK expected to shape the outcome of Thursday's announcement. -
The European Banking Authority has warned the market to expect a sharp deterioration in asset quality next year, after publishing a wealth of new information on provisioning practices.
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Asia-based Impact Investment Exchange (IIX) has raised $27.7m from a women's livelihood bond that was linked to the Covid-19 pandemic. Its chief executive and founder explains the deal’s rationale to GlobalCapital Asia.
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The Prudential Regulation Authority has told UK banks that they are free to resume dividend and bonus payments from next year, though pay-outs will be subject to caps based on profits and risk-weighted assets.
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The European Banking Authority has updated the market on how it thinks Basel IV will impact bank capital requirements, setting the scene for another paper next week examining how the rules could interact with the economic shock of the coronavirus pandemic.
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The launch this week of the Climate Transition Finance Handbook has propelled the sustainable debt market towards a new era, in which the emphasis moves from a labelled security to the issuer itself, writes Jon Hay.
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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