KfW

The German state development bank this week proved a digital bond can survive losing its registrar. It was another proof of concept for digitalised bonds but only the ECB can make the market real

◆ First in-life registrar and blockchain change ◆ Digital premium compresses from 10bp to 3bp ◆ Deal draws first international investor

◆ Björn Schlebach and Sven Wabbels on sterling trade ◆ Issuer held out for cross-currency to align ◆ Year's tightest Gilt print, at plus 4bp

◆ New sterling line, not headlines ◆ When the numbers finally work ◆ Three pillars hold the book

Smaller order book this time kept some market participants’ attention, but does size matter?

◆ First such trade from EIB for nearly 5.5 years ◆ Record size and book prove ESTR's appeal ◆ Pioneer deal could kickstart more issuance, bankers hope

◆ KfW 'sets the tone' with second 10 year benchmark ◆ British Columbia brings 'very solid' deal ◆ CAF continues to attract investors with 'compelling story'

Breaking through US govvie ‘definitely something on the table’ as issuers test current limit for dollar deals

◆ Issuer sets 'interesting benchmark' for peers ◆ New issue premium estimated ◆ EIB dollar FRN 'very impressive'

Head of funding Sven Wabbels and senior funding manager Jörg Graupner on KfW's recent euro deal

◆ New issue premium debated ◆ Rival bankers praise outcome ◆ Secondary performance mulled

Busy Thursday ahead as five euro and dollar benchmarks set to price after a slow March