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Primary action in the US and several banks reporting points to a rebound of euro issuance this week
Former US undersecretary for international trade expects more stockpiling
◆ Italian bank placed bond after tightening 7bp ◆ Banker said paucity of Italian covereds helped ◆ Covered market has slowed despite strong performance
Data
Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Late-week surge shows investors remain hungry for paper despite macro volatility
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New hire will replace executive moving internally -
◆ US insurance company starts marketing at 'sensible' IPT, says one banker off-deal ◆ But others say it was 'aggressive' ◆ They attribute change of sentiment and relative value difference to US dollars for pulling the deal
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◆ Unrated by major agencies but no hindrance to issuance ◆ Demand reflects broader risk appetite ◆ Infrequent issuers access seen as key market test
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Spanish bank also takes a FIG banker from HSBC
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◆ Bankers unsurprised to see positive reception for French insurers ◆ Fair value debated ◆ Market backdrop played a role
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New issue premiums are minimal again
Polls and awards
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
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