Featured FIG
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Conditions support capital issuance, even though European Commission's report gave no clarity on the future of AT1s -
Money centre banks pay to to land jumbo deals at sizes unheard of in euros
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Beyond the proposed lower leverage ratios, new frameworks may give banks more flexibility at times of stress
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Recent Unicaja tender and new issue prompts talk of wider adoption of debt management technicque more popular in US market
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Banks are well advanced with funding, but spreads could encourage pre-funding of subordinated capital
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Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
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Europe's regulator seeks to reduce complexity while 'preserving banks' resilience and resolvability'
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Currency's higher yielding appeal has lured investors across the capital stack
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Issuers seizing moment as rates stabalise and spreads hold near historic tights but some deals betray signs investors growing sensitive on price
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Less frequent issuers making the most of market with strong bid for yieldy assets
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Borrowers want to issue and spreads are tight, but execution windows are very unreliable
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Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
