Issues
-
Investors don’t like Mexico kicking the can down the road on Pemex, but are happy to take the same approach themselves. This is bad news for everyone -
Burden on Mexico’s finances is huge and investors are beginning to focus on the next government’s stance on the company
-
Plans for sovereign wealth fund-style facility being prepared with World Bank support
-
◆ Barclays’ bumper senior print proves euro market wide open ◆ US downgrade unsettles sentiment ◆ Dollars still the cheaper market
-
Covered bonds look safe, as investors’ focus turns to capital
-
◆ Low concessions paid in the first part of the week ◆ Market tone worsens after US downgrade and rates volatility ◆ Wells Fargo chooses quick return for opco funding
-
Subsequent refunding announcement triggers Treasury sell-off
-
Data centre companies will need to finance the expected vast new infrastructure
-
◆ Old Discos no longer attractive capital or funding tool ◆ But multiple AT1s also called with no signs of replacement ◆ UK banks well capitalised
-
Most sovereigns have light near-term maturities, meaning investors would rather they show patience
-
The Euro Stoxx Banks Index has now recovered most of its losses following Silicon Valley Bank's collapse in March
-
BAT, Mercedes-Benz and Daimler Truck head over the Atlantic for dollars
