Germany
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◆ 'Strong' bid from international and domestic accounts ◆ Priced inside of issuer's target level ◆ Lower NIP than last week's trades -
◆ 'More defensive' five year tenor works well ◆ Record non-German demand, central banks show hands ◆ Länder-KfW spread 'at a good place'
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◆ First 10 year Länder bond post-summer ◆ Pricing was fair versus KfW ◆ More diversified book than before
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◆ Truck manufacturer ends multi-year absence in sterling ◆ Some concession needed for popular deal ◆ German corporates enjoy a bumper year for sterling borrowing
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◆ Supra taps euro market after raising dollars last week ◆ New European Green Bond from familiar name ◆ French agency more active in EuGB than others
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◆ UK housing association sells 15 year bond ◆ Issuer lands spread at middle of range as book fails to 'catch fire' ◆ Traton lines up sterling deal
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◆ Swisscom pushes senior/sub spread close to record tights ◆ Tennet Germany lines up debut hybrid ◆ Hybrid volumes run ahead of 2025
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Issuer already funded across the curve from five to 30 years in euros this year, reaches 80% target
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◆ Two German names appear on the same day ◆ KfW's spread 'more generous' this time ◆ 'Good quality' book for Rentenbank
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◆ Infrequent issuer stretches euro curve by a year ◆ Order book barely budges through final pricing ◆ Bankers see high single digit new issue premium
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◆ Germany taps 2056s for second time this year, taking €4bn ◆ Spread was fixed from the start, rare for the issuer ◆ ‘Very, very flat’ 2054-2056 roll was key to the decision
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◆ German firm ends seven year sterling absence ◆ Slim concession paid ◆ Deal tightly priced compared to euros
