French Sovereign
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The relief rally sparked by Emmanuel Macron's victory in the French presidential election is yet to fully evaporate and the Europe's public sector borrowers have been taking full advantage of it. Read on to see how GC BondMarker voters rated France's return to capital markets as well as the rest of the benchmarks. -
Caisse des Dépôts et Consignations looks likely to be the latest public sector borrower to return to the sterling market after a long absence, after it hired banks to hold investor meetings next week.
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes this year.
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The European Financial Stability Facility blindsided investors this week, printing €6bn of 16 year paper despite having completed its second quarter funding requirements, stretching the tolerance of its €10.8bn book in the opinion of some onlookers.
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The SSA market has played host to a series of strong deals this week and shows no signs of fatigue, as investors flock to make the most of the glut of supply.
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The European Financial Stability Facility is lining up a 16 year euro benchmark for Wednesday, following a blow-out €7bn 30 year OAT.
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The public sector debt market is in for another hectic week of borrowing as issuers flock to take advantage of the superb conditions left in the wake of Emmanuel Macron’s victory in the French election.
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Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.
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There was strong praise this week from senior SSA bankers for Patrice Ract Madoux, the long-serving chairman of Caisse d’Amortissement de la Dette Sociale, who is retiring from the position.
