German Sovereign

The State of North-Rhine Westphalia mandated banks for what will be its first fixed rate dollar benchmark since 2010 on Wednesday afternoon.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

This week's scorecard covers the funding progress of sovereign issuers, with every issuer with a funding year that matches the calendar year either over the halfway mark or approaching it. Next week's scorecard will deal with European supranationals and agencies.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

This week's scorecard focuses on the funding programmes of selected German states and agencies. Most of this week's issuers are already more than halfway through their 2014 funding requirement.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Germany’s Joint Laender and the European Investment Bank tapped the 10 year part of the curve in euros on Thursday. The Laender came with a new issue benchmark that failed to get over the line and the EIB a tap that brought its January 2024 line to €4bn.

Germany’s Joint Laender hired five banks on Wednesday to run a 10 year deal, while the European Stability Mechanism received a riotous reception to a long five year at sub-Libor levels.

This week's scorecard covers the funding progress of sovereign issuers, with Belgium, Ireland, Netherlands and Portugal all over the halfway mark on their programmes for the year. Next week's scorecard will deal with European supranationals and agencies.

Land Nordrhein-Westfalen this week sold the first Brazilian real deal from a German sub-sovereign. The region, which notched up another new currency earlier this year when it debuted in New Zealand dollars, is keen to explore niche currency issuance to offer investors a pick-up in yield, according to MTN dealers.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Ireland's return to bond auctions last month helped the sovereign reach nearly 60% of its funding target for the year. Across the Irish sea, the UK started its financial year with a £2.577bn auction - and a reduced funding target of £128.4bn.