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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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Core European covered bond spreads and non-eurozone deals look well placed to weather volatility over the next few weeks and potentially through to year end depending on supply, market makers believe. Even in the eurozone periphery, the situation is considered orderly. -
Aegon announced a mandate for a restricted tier one (RT1) deal on Tuesday, undeterred by recently pulled tier one trades or the prospect of paying tax on its coupons.
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VakifBank returned to capital markets for the first time since January on Monday, raising $300m through a 10 year diversified payment rights securitization.
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MUFG has put in place a new management structure, which sees a number of its businesses run globally but from outside Japan. The bank has also crowned several regional and deputy regional heads.
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Slovakia’s Slovenská sporiteľňa (SLSP) has issued the first Aaa rated Slovakian covered bond paving the way for the country's first publicly syndicated euro benchmark. UniCredit has also privately placed a €500m Slovak covered bond.
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A recent court ruling in Spain could help to set a precedent for what information must be made public when a bank fails, as claims about the need for confidentiality start to wear thin.
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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