North America
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◆ Second euro outing for Alphabet after April debut ◆ Spread tightened sharply across tranches ◆ Colgate brings €650m trade -
UK bank trio stands out in heavy Yankee onslaught either side of Fed meeting
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◆ US consumer goods giant prints eight and 20 year paper ◆ Spread tightened more than 30bp on both legs ◆ More Reverse Yankees expected later this year
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Investors are eager to put cash to work in FIG bonds even though last week ended with concerns about bad loans
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◆ Nearly $12bn of orders for long-dated dollar deal ◆ Official money places chunky bids ◆ Bond performs, pulls peers’ spreads tighter
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Credit spreads widen on private credit concerns though technicals remain favourable
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◆ Citi achieves 'strong outcome' ◆ Pricing flat or close to fair value ◆ Sentiment 'more positive than in previous days'
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Additional reserves could be freed, enabling banks to scale up lending
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The Canadian borrower recently landed its tightest ever deal in US dollars
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Domestic names bring duration as earnings blackouts loom
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Despite widening of business development companies' spreads, technicals remain favourable for FIG issuance
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◆ Canadian lender sticks to the plan despite rates volatility ◆ Deal lands close to fair value ◆ Tenor chosen to avoid comparison with Aussies
