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◆ French bank swiftly acts after spreads tighten following ceasefire rally ◆ Fair value spread returns to pre-war level ◆ Bank pays small new issue premium
◆ Post-ceasefire rally brings predictability to market direction ◆ Quick execution brings the deal within vicinity of fair value ◆ Price discovery needed within German senior preferred universe
◆ Sterling benchmark deal was printed at £1bn ◆ Fourth sterling covered from Canadian issuer in 2026 ◆ Lead managers picked comps at 48bp-57bp over
Data
Tweaks to trading book rules will be next stage of competition
Come May, current dollar market's gain may turn into euro pipeline's pain
European Central Bank's more 'balanced' tone may offer reprieve for bond execution
European banks’ absence from primary market is ‘different this time’
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Banker moves into DCM job after helping to set up NordLB's green bond framework -
Nordic borrower offered a small premium for its €500m five year note this week
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The German lender found a pocket of demand at the short end of the market
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In this table, GlobalCapital Asia offers a glimpse of the bond deals that are in the works in the region
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Conditional pass through (CPT) covered bonds, once hailed as a genuine innovation that gave reliable and cheap market access, have had their day
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Relative value and central bank bond buying may be supporting supranational and covered bond spreads, but traders have questioned the ambiguous inflation and rates outlook, while agency bonds appear to be on shakier ground
Polls and awards
Have the chance to put forward your opinion and shape this year’s Bond Awards winners.
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
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