Location

◆ Citi achieves 'strong outcome' ◆ Pricing flat or close to fair value ◆ Sentiment 'more positive than in previous days'

Additional reserves could be freed, enabling banks to scale up lending

Issuer navigates US-China trade spat, and bond tightens to 1bp inside fair value the morning after pricing of tap

◆ One of the widest euro IPTs this year in IG corporate ◆ Demand rises during book building ◆ Single digit new issue premium

Investors are nervy over trade tensions between the US and China

◆ Axa prints RT1 and tier two on same day three French insurers announce deals ◆ Tier two demand surpasses RT1 interest ◆ Most subordinated capital still attainable at 'no-brainer' cost of funding

Private debt refis Here East campus loan

◆ €18.5bn demand for €1bn tap ◆ ‘Really fantastic’ deal completes 2025 funding ◆ 'Very tight' Bavaria struggles to attract

◆ Large size for long-end deal ◆ Book comparable to 10 year syndications ◆ 'Another strong, real-world response' to UK govvie

Information sharing between creditors is needed if debt restructurings are going to speed up

◆ Norwegian utility prints 13 year green bond ◆ Deal lands in the mid range of guidance ◆ Selective tone in a softer backdrop

The parties failed to reach a deal to restructure Ethiopia's only Eurobond, despite a haircut offer