Nordics
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◆ Good reception for new bonds despite company profit downgrade ◆ Negative premium on all legs ◆ Longest maturity draws biggest book -
Recent euro tap lured big order book amid scarce supply
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◆ Reoffer spread breaks below 100bp over mid-swaps ◆ Some new issue premium despite tight spread ◆Possible greenium
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◆ Relative value against covereds is important ◆ Spread 'could have been pushed more' ◆ Lack of SSA supply a factor
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◆ Combined demand peaks at more than €5.1bn ◆ Yield curve drives investors towards seven year ◆ No premium needed to hit size targets
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◆ Santander and SEB print sterling seniors ◆ 'Opportunistic window' for issuers ◆ Possible sign of busy sterling market next week
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Suspension of Council of Ethics lays bare difficult choices
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Focus on diversification boosts activity across Australian, Canadian and Danish markets and many more
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Sovereign prices flat to euro curve and 'well in line' with peers despite being less frequent in the currency
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◆ Sovereign's second dollar bond since 2020 ◆ Deal attracts 'really high quality demand' ◆ Pricing in line, if not better than, euros
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Upcoming rates decisions in four major economies create a fleeting issuance window
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Issuer adjusts execution strategy to price off swaps instead of Treasuries, outlines plans for 2026 funding
