Featured FIG
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Shrinking spreads between the two asset classes have left investors asking if the risk of senior debt is worth it -
Nykredit blasts through 300bp barrier, pushing investors up the capital stack
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Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
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Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
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French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
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Late-week surge shows investors remain hungry for paper despite macro volatility
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Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
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Avoiding unsecured euro issuance, French banks have concentrated funding in dollars and covered bonds as they eye record start
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Unsecured bonds could become more expensive to issue, covered bonds cheaper
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Vagueness over the future of AT1s pushes market rethink, though implementation is unlikely to come soon
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Despite uncertainties even stringent European regulations are expected to be simplified amid global race to lighten the load on banks
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Markets adjust to bumpy French political landscape as it mimics past Italian wobbles
