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◆ Bank's second labeled tier two in currency this year ◆ Limited attrition ◆ Volatile energy backdrop amid Strait of Hormuz tensions
◆ Leads picked three Achmea bonds as comps ◆ Dutch bank’s was one of two covereds on Monday ◆ Achmea’s was fourth Dutch covered this month
Two deals could demonstrate premium between STS and non-STS non-conforming RMBS deals
Data
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
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
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Banco BPM extended the run of recent Italian bank bond supply this week, launching a preferred senior bond. The deal was launched at 200bp over mid-swaps and did not offer a new issue premium to investors, according to a banker on the deal. -
Canadian Imperial Bank of Commerce was quick to take advantage of a favourable swing in the sterling-dollar basis swap, to issue its debut Sonia-linked covered bond on Monday, pricing the deal flat to fair value and tighter than where it could have printed in dollars or euros. The scale of demand would have allowed for a much larger deal, suggesting good potential for follow-on supply.
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The decision by the European Central Bank to lower its deposit rate to -0.5% last month has prompted the eurozone’s banks to look at passing some of the pain of negative interest rates on to their customers
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The idea of the Green New Deal, a package of policies addressing environmental, social and economic needs together, is spreading around the world and is likely to be on show first in Europe.
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The increasingly obvious threat of climate change is leading central banks into new territory, as they begin to analyse the risks it poses to the financial system. It is stretching them intellectually and posing new questions about how they interpret their mandates, and whether they can lead society or must travel at its pace.
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Estonia’s finance minister tells GlobalMarkets why he does not believe that the EU should set up its own anti-money laundering agency but should instead focus on more effective cooperation and faster information-sharing
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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