Pre-migration untagged articles

Swedbank wrapped up a busy week with a Skr14bn ($1.7bn) 3.4% three year issue last Friday (November 28). It was the Swedish bank’s third government guaranteed deal of the week.

US dollar swap spreads trended wider this week, despite the huge amount of presumably swap-driven issuance dumped into the market under the Temporary Liquidity Guarantee Programme.

Trax, the regulatory reporting arm of Xtrakter, announced this week it will help facilitate the regulatory reporting of derivatives trading under Mifid reporting requirements, starting next year.

The Securities Industry and Financial Markets Association held the inaugural meeting of the US Covered Bond Council steering committee in New York on Wednesday afternoon. Meanwhile, a member of Sifma’s US covered bond traders committee has left his firm.

The Association of German Pfandbrief Banks (Vdp) has put forward proposals to change the Pfandbrief Act, in addition to those included in the draft amendment that the ministry of finance has approved.

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

Australian and Swedish issuers made their government guaranteed debuts in the European commercial paper market this week, while UK banks are still issuing the equivalent of billions of dollars daily and Irish banks are still having to pay up.

Citigroup and some of its employees are being sued in a class action lawsuit led by Kirby McInerney & Squire over its CDO business.

Dealer hedging, the withdrawal of liquidity and sheer, unadulterated economic gloom this week conspired to send credit default swap indices to new peaks.

Bayerische Landesbank this week reported an operating loss of Eu1.67bn on Wednesday, two days after announcing cost-cutting plans that involve reducing its international operations and cutting 5,600 jobs, as well as a plan to raise Eu10bn of new capital.

Irish bank issuers were active this week, despite some dealer reports that investor books are full of such paper and that the widening of guaranteed paper is a problem.

The Swiss franc market proved able to digest two new corporate issues this week, in spite of fears that last week’s frenzied activity might have exhausted demand.