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The slide in French government bonds this week raises concerns for the country's banks and companies
Budget crisis may give way to election agony
◆ OAT rout puts French borrowers in awkward spot ◆ Sterling FRNs: a popular underdog ◆ Emerging market secondary bonds lose relevance
Data
Higher new issue premiums make deals shine amid market volatility
Conducive credit markets and tight spreads to lure issuers as risks loom on the horizon
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
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Banca Carige has challenged a downgrade from Fitch, after the rating agency discussed the potential failure of the bank. The hard-pressed Italian lender also indicated that it had spoken to the European Central Bank about a merger. -
There are more than $512bn worth of bonds that will need to switch to an alternative reference rate if global regulators execute plans to ditch the Libor benchmark by the end of 2021, Linklaters said on Wednesday. GlobalCapital asked the law firm what needs to happen for a successful switchover.
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Sumitomo Mitsui Banking Corporation (SMBC) has mandated leads to roadshow the first ever Japanese covered bond. The RMBS-backed deal is expected to appeal to a broad universe of traditional investors and will set the tone for Japanese megabanks and other borrowers in what could be a rich supply vein for covered bond investors.
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Two financial institutions have had to abandon their plans to sell small subordinated bonds in recent days, with euro investors showing very little appetite for taking up illiquid positions in a volatile market. Banks are now facing tough questions about the viability of raising debt capital in sizes of less than €500m, after a period of incredible growth in the sub-benchmark sector.
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Catastrophe bonds and the emerging markets fit well together, with perils in China and Southeast Asia particularly well placed to be covered. Can the insurance-linked securities market take off?
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Catastrophe bondholders barely felt the flooding unleashed by storm Florence in the Carolinas, highlighting the lack of market exposure to US flood risk.
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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