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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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Valuations carried on climbing in the bank bond market on Thursday, as investors appeared keen to look beyond the uncertain outcome of the US presidential election. -
Some market participants say the European Central Bank could open itself up to buying preferred senior bank debt if it expands its purchase programmes in December.
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The Reserve Bank of Australia has announced plans to explore the potential uses and implications of a central bank digital currency using distributed ledger technology. The RBA follows the Banque de France, which last year worked with Société Générale to settle a crypto covered bond — a product that offers a number of ways to deploy blockchain technology.
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BP, the UK-based oil supermajor, has appointed a former FIG banker at Morgan Stanley as its group treasurer, GlobalCapital understands.
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Credit Suisse has created a new post of head of investment grade capital markets, EU.
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Net covered bond supply is set to shrink further next year against what was an already dismal outlook for new deals. Expectations that the ECB will bring further monetary stimulus in December will only exacerbate the trend.
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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