Pre-migration untagged articles

Investor demand for exotic currencies increased this week, as yield hungry investors looked for the pick-up that such trades offered. The demand for the currency-linked trades was mostly from Japan.

The International Finance Facility for Immunisation Co (IFFIm), which raises funds for health and immunisation programmes around the world, issued its first vaccine bond of 2010 on Tuesday — a R2.5bn three year Uridashi via Daiwa Securities Group with a 7.15% coupon.

A lack of demand from issuers for short dated funding has led to an increase in the average tenor of European commercial paper issues, as well as a fall in ECP outstanding.

Crédit Agricole has had a flying start to the year, battling it out for top of the league tables with the best of them, despite what seems to be a fairly severe identity crisis on the MTN desk at the bank.

The European Central Bank will make the portfolio of covered bonds it acquired under its Eu60bn purchase programme available for lending, it said on Thursday, and has prompted the European Covered Bond Council to launch a consultation on post-trade price transparency, as it seeks to improve market liquidity.

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days.

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The Asian Development Bank’s A$600m Kangaroo on Thursday marked this year’s first new 10 year bond from a foreign SSA in the Australian domestic market.

Barclays Bank sold a Eu1bn 12 year issue on Tuesday that was the first benchmark covered bond launched from a jurisdiction other than France or Germany in nearly a month.

Corporate issuers increased their activity in the European commercial paper market this week, although some market participants feel that dealers are snapping up paper too quickly for prices truly to reflect demand.