Top section
Top section
The bank is the largest in the country and a close proxy for investors to the government
Key points of contention include the investor sanctions regime and the definition of 'resilience'
◆ Largest coverage ratio for almost three months ◆ Priced flat to fair value ◆ Slow pipeline predicted for rest of week
Data
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
NatWest Group will gain extra equity after calling a large dollar additional tier one (AT1) issue this week, with banks having now honoured calls on more than two thirds of the deals up for redemption this year. -
The Financial Stability Board has this week recommended that further analysis be carried out to assess how bank capital buffers should work after the coronavirus pandemic. It will set out its next steps in another report in October.
-
The covered bond and sovereign, supranational and agency sectors were well very well bid on Tuesday despite supply from the European Union and US T-Bill auctions. Even though US inflation is proving to be much higher than expected, dovish comments from the European Central Bank and the expectation of lower supply over the summer kept the mood light in secondary markets.
-
The build-up of court cases during the pandemic has rendered the investment profile of mortgage performance — a key metric for structured finance investors — ever more difficult to predict.
-
Novo Banco’s got off the ground with its build out towards its minimum requirement for own funds and eligible liabilities (MREL) this week, but the bank was unable to tighten its inaugural preferred senior deal beyond initial price thoughts.
-
The primary capital markets had a difficult end to last week as issuers found it increasingly challenging to execute deals. Although stable in most markets, the average concessions paid in the corporate bond market edged upwards and continued to climb in the FIG market.
Polls and awards
Don't miss your chance to choose this year's Bond Award 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
Sub-sections
Comment